BVNK Acquisition, Valuation, Funding & Investors
BVNK was acquired by Mastercard for $1.8B in March 2026, a 45.0x multiple on $40M of revenue.
BVNK revenue at acquisition
$40M
Last twelve months · Mar 2026
BVNK revenue multiple at acquisition
45.0x
EV/Revenue · Mar 2026
Cumulative funding BVNK raised
$91M
across 2 funding rounds
About BVNK
BVNK is a provider of enterprise payments infrastructure combining stablecoins and fiat rails for global transactions. Based in London, United Kingdom, BVNK offers managed and self-custody models for cross-border payments, payroll, and marketplace settlements, including licensing, custody, and compliance support for fintech clients.
Founded
2021
HQ
LondonWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Usage-based
Revenue
$40M (Dec 2024)
Valuation
$750M (Dec 2024)
BVNK Acquisition
BVNK was acquired by Mastercard for $1.8B on 16 March 2026.
The acquisition price implies a 45.0x revenue multiple on $40M of revenue.
Before the acquisition BVNK had raised $91M across 2 funding rounds.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 16 Mar 2026 | Strategic M&A | $1.8B | 45.0x |
BVNK Valuation
BVNK is currently valued at $750M, based on its Series B in December 2024.
The $50M round was led by Haun Ventures, with participation from Menlo Park Capital, Coinbase Ventures, Scribble Ventures, Tiger Global, Avenir and 1 other investor.
BVNK's valuation has grown 2.3x from $330M at its Series A in May 2022 to $750M in December 2024, across 2 priced rounds.
BVNK valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2024 | Series B | $750M | 18.8x |
| May 2022 | Series A | $330M | - |
BVNK Revenue
BVNK's latest recorded revenue is $40M, as of its Series B in December 2024. At a $750M valuation, that implies a 18.8x revenue multiple.
BVNK revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2024 | $40M | $750M | 18.8x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
BVNK Funding History
BVNK has raised a total of $91M across 2 funding rounds.
BVNK's first fundraising round was a $41M Series A in May 2022. The most recent completed round was a $50M Series B in December 2024.
BVNK funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2024 | Series B | Haun Ventures (lead); Menlo Park Capital; Coinbase Ventures; Scribble Ventures; Tiger Global; Avenir; DRW | $50M | $750M | BVNK is a U.K.-based stablecoin infrastructure provider founded in 2021, enabling businesses to send, receive, convert, and store stablecoins and fiat currencies. It offers multi-currency payment infrastructure, cross-border payouts, virtual accounts, and products like Layer1 for in-house stablecoin payments management. High-profile clients include Deel for global contractor payments, Worldpay, Highnote, Rapyd, Bitso, dLocal, Trust Payments, and others. The company integrates with banking networks like SWIFT and SEPA for real-time settlement outside standard hours, initially focusing on Europe and Asia before expanding to the U.S. On December 17, 2024, BVNK raised $50 million in an all-equity Series B funding round led by Haun Ventures, with participation from Coinbase Ventures, Scribble Ventures, DRW Venture Capital, and existing investors Avenir and Tiger Global. The round valued the company at around $750 million post-money, according to sources familiar with the deal, following a $40 million Series A in May 2022 at $340 million valuation. Proceeds will fuel U.S. expansion, including new offices in San Francisco and New York City, building on recent U.S. team growth, banking infrastructure, and licenses. At the time of the round, BVNK reported $40 million in annualized revenue and processed $10 billion in annualized transaction volume, with later updates noting surpassing $20 billion annualized processing volume by its fourth anniversary. This reflects 200% year-on-year growth in payment volumes since the Series A. The timing followed Stripe's $1.1 billion acquisition of competitor Bridge, which had raised from Haun Ventures and others, catalyzing interest in stablecoin infrastructure amid rising stablecoin adoption and U.S. regulatory clarity. BVNK's growth aligns with stablecoins as an upgrade to legacy payment systems, serving as on-and-off ramps between fiat and stablecoins. Post-Series B developments include potential acquisition talks with Coinbase and Mastercard at $1.5-2.5 billion valuation, though unconfirmed. |
| May 2022 | Series A | Tiger Global (lead); Kingsway Capital; Concentric; Kinled Holding; Avenir; Base Capital; Nordstar; Raba Partnership | $41M | $330M | BVNK is a London-based fintech providing stablecoin payments infrastructure, enabling businesses to send, receive, convert, and store stablecoins and fiat across domestic and international payment rails and blockchains. Founded in 2021, it offers multi-currency payment solutions, cross-border payouts, virtual accounts, and products like Layer1 for in-house stablecoin management. The company integrates with networks like SWIFT and SEPA for real-time settlement outside standard banking hours and serves high-profile clients including Deel, XM, Rapyd, and Trust Payments. In May 2022, BVNK raised $40 million in a Series A funding round led by Tiger Global, with participation from Avenir, Base Capital, Concentric, Kingsway Capital, Kinled Holding, Nordstar, Raba Partnership, and others. The funding supported expansion into new markets, acquisition of regulatory licenses, and product development to enable stablecoin-based global money movement without traditional networks like SWIFT or holding crypto. At the time, BVNK reported monthly payments volumes doubling since January 2022, processing $2 billion in annualized volumes. Since the Series A, BVNK achieved 200% year-on-year growth in payments volume, reaching $10 billion annualized by late 2024. It secured digital asset registration from the Bank of Spain, acquired UK paytech System Pay Services, and expanded client base. In December 2024, BVNK raised a $50 million Series B led by Haun Ventures (with Coinbase Ventures, DRW VC, Scribble Ventures, Avenir, and Tiger Global), valuing the company at around $750 million post-money. Funds fueled US expansion with offices in San Francisco and New York, building local banking and licenses. One source cited $40 million annualized revenue in late 2024. |
Who has invested in BVNK?
13 investors have backed BVNK across its funding rounds, including Tiger Global, Avenir, Coinbase Ventures, Scribble Ventures, Concentric and Kinled Holding.
Lead investors include Haun Ventures and Tiger Global.
BVNK Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 2 | Lead | May 2022 | |
| New York City, NY | 2 | Participant | May 2022 | |
 Edmonton | 1 | Participant | Dec 2024 | |
| San Francisco, CA | 1 | Lead | Dec 2024 | |
| San Francisco, CA | 1 | Participant | Dec 2024 | |
| San Francisco, CA | 1 | Participant | Dec 2024 | |
| London | 1 | Participant | May 2022 | |
| London | 1 | Participant | May 2022 | |
| New York City, NY | 1 | Participant | May 2022 | |
 Cape Town | 1 | Participant | May 2022 | |
| London | 1 | Participant | May 2022 | |
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Start Free TrialAcquisitions by BVNK
BVNK has acquired 1 company to date.
Last acquisition by BVNK was on November 28th 2022. BVNK acquired System Pay Services for undisclosed valuation.
Latest Acquisitions by BVNK
| Description | System Pay Services Limited is a London-based electronic payment acquirer licensed by the Financial Conduct Authority. The company processes card payments for UK merchants via Visa, Mastercard, and American Express networks. Services include online gateways, POS terminals, and virtual cards, integrated with platforms like Shopify and WooCommerce. System Pay Services handles transactions for retail, hospitality, and e-commerce sectors, offering chargeback management and 3D Secure authentication. |
| HQ Country | |
| HQ City | London |
| Deal Date | 28 Nov 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all BVNK acquisitions and their M&A valuation multiples. Start Free Trial | |
BVNK Competitors
BVNK competitors include listed companies like Circle and Sharplink, and private ones like Optimism, Opn, zerohash and Billdesk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | $45M | - | $1.6B | 36.7x | |
 Tokyo | Private | - | - | $1B | - | |
| Chicago, IL | Private | - | - | $1B | - | |
| United States | Publicly listed | $2.7B | ($73M) | $22B | 6.8x | |
 Mumbai | Private | $99M | - | $1.8B | 18.2x | |
| United States | Publicly listed | $28M | ($734M) | $1.8B | 39.9x |
BVNK Public Comps
BVNK is no longer listed, but its public comps include Sharplink, Computer Age Management Services, Evertec, Marqeta, eFinance, Securitize, Fawry, OSL Group, Isracard and Crane NXT.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $158M | $74M | 11.2x | 10.5x | 23.8x | 23.0x | |||
| $932M | $330M | 3.0x | 2.7x | 8.6x | 6.8x | |||
| $625M | $14M | 1.5x | 1.4x | 69.6x | 7.1x | |||
| $130M | $67M | 11.8x | - | 22.8x | - | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $166M | $73M | 6.8x | 5.2x | 15.4x | 9.6x | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
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Common questions about BVNK
| When was BVNK founded? | BVNK was founded in 2021. |
| Where is BVNK headquartered? | BVNK is headquartered in London, United Kingdom. |
| Is BVNK publicly listed? | No, BVNK was acquired by Mastercard in March 2026. |
| Who acquired BVNK? | BVNK was acquired by Mastercard in March 2026. |
| How much was BVNK acquired for? | BVNK was acquired for $1.8B in March 2026, a 45.0x revenue multiple. |
| What is BVNK's valuation? | BVNK was last valued at $750M in its Series B in December 2024. |
| How much funding has BVNK raised? | BVNK has raised $91M across 2 funding rounds. |
| What was BVNK's last funding round? | BVNK's last funding round was a $50M Series B in December 2024, led by Haun Ventures. |
| Who are BVNK's investors? | BVNK's investors include Tiger Global, Avenir, Menlo Park Capital, Haun Ventures, Coinbase Ventures, Scribble Ventures, Kingsway Capital, Concentric, Kinled Holding, Base Capital and 3 others. |
| What is BVNK's revenue? | BVNK's latest recorded revenue is $40M (December 2024). |
| What is BVNK's revenue multiple? | BVNK's latest valuation implies a 18.8x revenue multiple ($750M valuation on $40M of revenue). |
| Which companies are comparable to BVNK? | Companies comparable to BVNK include Optimism, Opn, zerohash, Circle, Billdesk and Sharplink. |
| How many companies has BVNK acquired? | BVNK has acquired 1 company, including System Pay Services. |
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