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

2TM, a Brazilian fintech unicorn that’s the holding firm of Mercado Bitcoin, one of many 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 traders.

2TM Gets $50 Million More, Prepares for Expansion

2TM, one of many largest fintech conglomerates in Latin America, has raised $50 million in an enlargement 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 many main crypto markets in Brazil, and it’s now searching for to broaden its companies to different international locations on the continent. The entrance of corporations like 10T, which is making its first funding within the area, may sign that there’s nonetheless curiosity within the progress potential of Latam-based markets in the case of digital belongings.

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

Significant Growth

2TM has skilled notable progress this 12 months, 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 progress, Dagnoni careworn:

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

2TM has additionally diversified its investments, positioning itself as a bridge firm between the digital asset and the normal finance markets. This ostensibly places it in a spot to serve conventional traders and institutions that wish to dabble within the crypto market, whereas nonetheless aiming to achieve the retail investor desirous about digital belongings.

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