2TM Group, the parent company of Mercado Bitcoin, a Latin American cryptocurrency exchange, raised $200m USD in funding.
The SoftBank Latin America Fund made the investment, which valued 2TM Group at $2.1 billion USD.
The company intends to use the funds to grow the team to 700 by the end of 2021, accelerate growth across its portfolio, which will also include digital wallet provider MeuBank, subject to regulatory approvals. In 2021, 2TM Group will also launch Bitrust, a digital custodian, subject to regulatory approval.
Led by Roberto Dagnoni, Executive Chairman & CEO, and Gustavo Chamati, Co-Founder and Board Member, 2TM Group is a Brazilian holding company managing a range of digital asset services and solutions. Mercado Bitcoin is a cryptocurrency exchange, which processed transactions totaling almost $5 billion USD in volume in the first five months of 2021. Sister companies include:
- Meubank, a multi-asset wallet and account service currently waiting for a Brazilian Central Bank license,
- Bitrust, a qualified digital custodian currently awaiting regulatory approval,
- Clearbook, an equity crowdfunding platform,
- MBDA, an asset tokenizer,
- Mezapro, which provides services to institutional investors, and
- the Blockchain Academy, the group’s educational arm.
The round followed Mercado Bitcoin’s Series A round in January 2021, which was co-led by G2D/GP Investments and Parallax Ventures, with participation from HS Investimentos, Gear Ventures, Évora and Genial.
FinSMEs
02/07/2021