BVNK Secures Visa Investment to Expand Payment Solutions
Revolutionizing the Payment Landscape: BVNK Secures Strategic Investment from VISA
In an exciting development for the world of stablecoin payments, BVNK, a London-based financial technology company, has recently caught the attention of major players in the investment arena. The company secured a strategic investment from VISA through its investment arm, Visa Ventures. While the financial details of this funding have not been disclosed, this partnership underscores the growing interest in innovative payment solutions that cater to the evolving needs of businesses and consumers alike. With BVNK setting the standard, investors should take note of this company's potential to transform the global payments landscape.
Founded by visionaries Jesse Hemson Struthers, Donald Jackson, and Chris Harmse, BVNK delivers a powerful platform capable of automating and orchestrating stablecoin payments on a large scale.
The company's technology is crucial for facilitating funding transactions that allow businesses to move money efficiently across borders. With an impressive processing capacity of $12 billion in annual stablecoin payment volumes, BVNK is already enabling clients—including iconic brands like Ferrari and financial facilitator Rapyd—to leverage these new payment rails with ease. This not only opens doors for businesses of all sizes but also attracts keen interest from curious investors eager to capitalize on the burgeoning sector.
Expanding its reach further, BVNK has made a significant move into the US market by establishing offices in San Francisco and New York City. This strategic expansion is spearheaded by former BlockFi executive Amit Cheela and former Cross River executive Keith Vander Leest, amplifying the company’s capabilities to engage with new clients and partners. Notably, this investment from VISA follows a successful $50 million Series B funding round celebrated in December, led by Haun Ventures with participation from notable investors such as Coinbase Ventures, Scribble Ventures, DRW Venture Capital, Avenir, and Tiger Global. As the ecosystem for digital currencies and alternative financing expands, BVNK is poised to become a significant player, creating valuable opportunities for both startups and seasoned investors alike.
Key Terms Explained
- Stablecoin
- This is a kind of cryptocurrency that's price stable because it's pegged to a reserve of assets. Stablecoins are often used for payments, trades and long-term holds especially as they mitigate the volatility problem of cryptocurrencies.
- Funding
- This refers to the financial resources made available typically by investors to startups or other enterprises to start, expand or continue their operations. Funding could take several forms including debt, equity, or grants.
- Investors
- These are individuals or institutions that provide capital to startups or businesses with an expectation of receiving financial returns or other profits. They play a critical role in startup growth primarily through funding rounds.
Frequently Asked Questions
- Who recently made a strategic investment in BVNK?-VISA recently made a strategic investment in BVNK, through its investment arm, Visa Ventures.
- What kind of payments does BVNK's platform facilitate?+
- What businesses has BVNK enabled to leverage new payment rails?+
- What major funding success did BVNK celebrate recently?+
- Who led BVNK's successful Series B funding round?+
Click here for a full list of 6,908+ startup investors in the UK