Baanx Secures $20M in Series A Funding Round Led by Industry Leaders
With the new funding in place, Baanx wants to expand its services beyond the U.K. and Europe, with plans to enter the U.S. and Latin American markets later this year.
Baanx, a leading cryptocurrency payments specialist authorized by the U.K.'s Financial Conduct Authority (FCA), has announced the successful closure of a $20 million Series A funding round. This investment marks a great milestone for the company and its have position itself as a key player in the crypto payments ecosystem.
The Series A funding round saw participation from a prestigious group of investors, including Ledger, Tezos Foundation, Chiron, and British Business Bank. This diverse investor base reflects confidence in Baanx's vision and underscores the growing interest in the crypto payments sector. With the completion of this funding round, Baanx's total funding now exceeds $30 million. This substantial investment provides the company with a strong foundation to further expand its presence in the global market and advance its innovative payment solutions.
Founded in 2018, Baanx has established itself as a pioneer in simplifying crypto payments and fostering adoption among a diverse user base. By offering effortless connectivity and a seamless user experience, Baanx is poised to drive the next wave of cryptocurrency payments in the rapidly evolving digital finance space. Baanx recently inked a three-year partnership with Mastercard for the U.K. and Europe, highlighting its commitment to collaboration with industry leaders.
With the new funding in place, Baanx wants to expand its services beyond the U.K. and Europe, with plans to enter the U.S. and Latin American markets later this year. Simon Jones, Chief Commercial Officer of Baanx, highlighted the company's commitment to empowering users with full control over their funds while facilitating real-world spending. By offering non-custodial, on-chain products, Baanx is paving the way for the next generation of crypto payments, where users have the freedom to transact seamlessly and securely.
Looking ahead, Baanx remains focused on advancing its product offerings and delivering exceptional value to its users. The company's native BXX token, along with its commitment to innovation and customer-centricity, positions Baanx for continued growth and success in the dynamic world of cryptocurrency payments.
