2TM, a Brazilian Fintech Unicorn that holds Mercado Bitcoin (one of the largest crypto exchanges in the world), has raised $50 million more through its Series B financing round. Tribe Capital from the U.S., and 10T led the round. Other new investors were also involved.
2TM gets $50M More, and prepares for expansion
2TM, a major fintech company in Latin America has secured $50 million to expand its Series B financing round. Tribe Capital led the second round and other investors participated, such as Traders Club and Pipo Capital.
Softbank provided $200 million to close the first round of funding. 2TM is the holding company of Mercado Bitcoin, one of the leading crypto markets in Brazil, and it’s now seeking to expand its services to other countries on the continent. 10T is the latest company to invest in the region. It could be a sign that interest is still high in Latam’s potential for digital assets.
Roberto Dagnoni, CEO of 2TM, stated the company’s priority will be to reach Mexican, Argentinian, Chilean, and Colombian markets in the near future.
Significant Growth
2TM saw notable growth in this year’s trading volumes. They were twice as high in January and October than the Mercado Bitcoin records from 2013, 2013 and 2020. About Mercado Bitcoin’s growth, Dagnoni stressed:
Today, we have more than 3.2million customers. This is equal to approximately 80% of all individual accounts on the Brazilian Stock Exchange. This growth reinforces Brazilians’ appetite for digital assets and the great transformation that is hitting the traditional financial market.
2TM is also diversifying its investments. This position positions it as a bridge between the traditional finance and the digital asset markets. The company is now in a position to help traditional investors, institutions and retail investors who are interested in cryptocurrency markets.
2TM is raising $50 Million more for expansion in Latam. What are your thoughts? Leave your comments below.
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