BVNK raises $40 million series A round led by Tiger Global.

BVNK, a London, UK-based crypto startup building a digital asset financial services operation, announced closing series A round at $40 million.

The money was raised from multiple investors led by Tiger Global, joined by The Raba Partnership, Avenir, Kingsway Capital, Nordstar, Concentric and Base Capital.

BVNK, founded in 2021 by Donald Jackson and Jesse Hemson-Struthers, offers banking services and payments for crypto-native businesses via three core products: the BVNK BusinessAccount where companies can accept payments in both fiat and cryptocurrencies, as well as hold different currencies and crypto assets, BVNK Yield, where clients can put their capital to work and earn interest, and BVNK Markets for executing large transactions.

BVNK started originally as a retail business and since pivoted to a purely B2B business, with 120 customers processing over $2 billion in annualized payments volume.