Mercado Bitcoin is a Latin American digital assets exchange that has managed to raise 200 million dollars in Series B funding from the SoftBank Latin America Fund. The 2TM Group, the parent company of Mercado Bitcoin, is at $2.1 billion, which makes it rank among the top 10 unicorns in Latin America.

The company has a very impressive first half. Between the months of January and May of 2021, Mercado Bitcoin says that about 700000 new customers have signed up to use its services. It is bringing the customer base of the company to 2.8 million. It is more than 70% of the entire individual investor, which is based on the stock exchange of Brazil.

Also, during the first five months of the year, Mercado Bitcoin saw its trade volume surge to near $5 billion. It is more than the total volume that it has seen in the first seven years. It is 11 times the volume that it will experience during 2020.

Established by Gustavo and Mauricio Chamati in 2013, Mercado Bitcoin was the first-ever crypto exchange in Brazil. The company has been very profitable since 2018, and in January 2021, it has bootstrapped from its inception. It participated in the reinvesting of its cash generation for growth and portfolio expansion.

The CEO Roberto Dagnoni said, “This makes us a somewhat unique case in the ecosystem and among our fintech peers in general – few companies have managed to reconcile over 100% year-over-year growth with a positive bottom line.”

The holding company possesses a number of other entities like Meubank, which is a multi-asset wallet and an account service that is waiting for a Brazilian Central Bank license. Bittrust is a qualified digital custodian, and Clearbook is an equity crowdfunding platform.

In 2019, the 2TM Group became the first company in the world to tokenize its public debt assets. In 2020, the company issued the Fut Coin.

Mercado Bitcoin has 500 employees today. By the end of the year, it will have a headcount near 700. The company will also use the new capital towards the expansion of its service offerings and will invest in the infrastructure.

The interests of people across the globe in the cryptocurrency have helped in its growth. Also, the country is seeing the lowest interest rates on the record, which has fueled the growth. At the same time, Brazil’s financial services industry is also giving them the opportunity for fintech to grow.

The SoftBank Latin America Fund described them as a regional leader in the crypto space.

It added, “At SoftBank, we look to invest in entrepreneurs who are challenging the status quo through tech-focused or tech-enabled business models that are disrupting an industry – Mercado Bitcoin is doing just that.”

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