London Bank raises $40M series C extension #

The Bank of London’s Series C investment round has been increased by $40 million.

Following the announcement of the new financing on February 8, the bank’s Series C financing now stands at $130 million, in line with the $1.1 billion valuation achieved during the first round of financing in 2021. Since that announcement, the company has raised a total of $160 million.

In a recent interview with PYMNTS, Shaunt Sarkisian, Chief Market Officer at The Bank of London Group, said that in 2023, we will see a surge in demand for security and predictability in the global remittance industry.

Describing 2023 in one word, he called it “volatile” and “volatile,” adding that he believes “people are looking for stability.”

On the other hand, Sarkeesian urged companies to continue to innovate despite the turmoil, rather than sit back and wait it out. When the market stabilizes, he advises those who have the means to do so to prepare by creating a “war chest” of innovative ideas.