FV Bank Raises $8 million in Series A Funding Round

FV Bank, a global digital bank providing business and individual accounts globally, recently has raised $8 million in a Series A funding round, boosting its valuation to $48.9 million. 

The latest funding round was led by BnkToTheFuture, Decentralized Ventures, NFG Fund, CCIX Global, Zenrain Technology, and Satvat.

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According to the official press release, FV Bank will utilise the new fund to launch its digital asset custody division, develop its debit card offering, and accelerate its international expansion. 

Founded in 2018, ​FV Bank is licensed by the Office of the Commissioner of Financial Institutions (OCIF). The company aims to expand its product suite to include interest-bearing products and B2B lending services in 2022, aiming to achieve $750 million to $1 billion AUM within the following year.

“We are focused on expanding our core suite of vertically integrated banking services to meet the demonstrated needs of institutional clients who are not catered to by the traditional banking sector. The demand for banking services in the FinTech and digital asset industries currently far outweighs the supply. With this new round of funding, we are in an excellent position to continue innovating and expanding our offerings to our growing client base,” commented Miles Paschini, FV Bank’s CEO.