SÃO PAULO–2TM Group, the parent company of Mercado Bitcoin, the leading cryptocurrency exchange in Latin America, today announced that Mercado Bitcoin has raised $200 million USD from the SoftBank Latin America Fund. The fundraise represents the largest Series B round in Latin America’s history and SoftBank’s largest investment in a Latin America crypto company. The investment values 2TM Group at $2.1 billion USD, making it the eighth most valuable unicorn in Latin America.3
Cryptocurrencies have incredible potential in Latin America. We believe winning in Brazil is critical for 2TM Group and are excited to take part in this incredible journey.”
Mercado Bitcoin will use the funds to increase its scale, expand its offerings and invest in infrastructure to meet the soaring demand for crypto in the region. The company has seen significant growth over the past year, with its client base reaching 2.8 million in 2021 –more than 70% of the entire individual investors base on Brazil’s stock exchange.4 Between January and May 2021, approximately 700,000 new customers signed-up to use Mercado Bitcoin’s services. During the first five months of the year, Mercado Bitcoin also saw its trade volume increase to $5 billion USD, surpassing the total for its first seven years combined.
“Millions of people around the world are realizing that digital assets and cryptocurrencies are both innovative technologies and efficient stores of value – Brazil is no exception to that trend,” said Roberto Dagnoni, Executive Chairman & CEO of 2TM Group. “This series B round will afford us to continue investing in our infrastructure, enabling us to scale up and meet the soaring demand for the blockchain-based financial market. I am thrilled to have the SoftBank Latin America Fund support to help us to realize our vision, thanks to the unparalleled combination of their financial expertise, in-depth industry experience, and extensive regional footprint.”