Bitso, the largest cryptocurrency exchange platform in Latin America, today announced a $250 million Series C equity round led by Tiger Global and Coatue. Paradigm, BOND & Valor Capital Group also joined the round, together with existing investors QED, Pantera Capital, and Kaszek.
Funds will be used to enhance Bitso’s platform, and support the launch of Bitso’s upcoming product offering; which will include a crypto derivatives platform and interest-bearing accounts.
The company supports users in Mexico, Argentina, and now Brazil; and is the only exchange to offer insurance for their client’s funds. In January 2021, the Financial Superintendence of Colombia announced Bitso as one of the authorized companies in their sandbox and crypto pilot program.
“We’re proud to grow with the industry and to continue to make these powerful financial enablers available to everyone. Last week we launched our retail operations in Brazil. This round will be used to expand our capabilities, our product offering and to continue making crypto useful across Latin America.”
– Bitso Co-Founder and CEO Daniel Voge
This Series C follows Bitso’s $62M Series B funding round in December 2020.