Tuesday, January 25, 2022

2TM, Mercado Bitcoin’s Holding Company, Raises $50.3 Million in Second Closing of Series B Funding Round – Bitcoin News

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2TM, a Brazilian fintech unicorn that’s the holding firm of Mercado Bitcoin, one of the main crypto exchanges on the continent, has closed its Series B funding spherical once more, elevating a further $50 million. The funding spherical was led by U.S.-based 10T and Tribe Capital, with the participation of different new buyers.

2TM Gets $50 Million More, Prepares for Expansion

2TM, one of the largest fintech conglomerates in Latin America, has raised $50 million in an growth of its Series B funding spherical. The second closing of the spherical was led by 10T and Tribe Capital and had participation from different events, together with Traders Club, Pipo Capital, and Endeavor.

The first closure of the funding spherical was in July when it obtained $200 million from Softbank. 2TM is the holding firm of Mercado Bitcoin, one of the main crypto markets in Brazil, and it’s now looking for to develop its providers to different nations on the continent. The entrance of firms like 10T, which is making its first funding in the area, may sign that there’s nonetheless curiosity in the expansion potential of Latam-based markets in terms of digital belongings.

Roberto Dagnoni, CEO of 2TM, acknowledged the corporate’s precedence can be to succeed in Mexican, Argentinian, Chilean, and Colombian markets in the close to future.

Significant Growth

2TM has skilled notable development this yr, with buying and selling volumes between January and October being double these Mercado Bitcoin recorded from its inception in 2013 to December 2020. About Mercado Bitcoin’s development, Dagnoni pressured:

We have grown to greater than 3.2 million prospects in the present day, which is equal to 80% of particular person accounts on the Brazilian Stock change. This development reinforces Brazilians’ urge for food for digital belongings and the nice transformation that’s hitting the standard monetary market.

2TM has additionally diversified its investments, positioning itself as a bridge firm between the digital asset and the standard finance markets. This ostensibly places it in a spot to serve conventional buyers and establishments that need to dabble in the crypto market, whereas nonetheless aiming to succeed in the retail investor in digital belongings.

What do you concentrate on 2TM elevating $50 million extra to develop in Latam markets? Tell us in the feedback part beneath.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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