Cryptocurrency platform Bitso raises $250M Series C

LatamListBitso, a cryptocurrency exchange platform, raised a $250M Series C round led by Tiger Global and Coatue. Other investors included Paradigm, BOND Capital, Valor Capital, QED Investors, Pantera Capital and Kaszek.

Bitso offers multiple cryptocurrency products and services to more than 2 million customers across Mexico, Argentina, and Brazil. Users are able to buy, sell, send, or receive Bitcoin and with other crypto currencies on the Bitso platform.

“Cryptocurrencies are the future of finance and Bitso makes the future available today,” the company said in a statement.

The funding round comes only four months after a $62M Series B round. The company now has a valuation of $2.2B and is the most valuable crypto platform in Latin America. 

Bitso’s mission is to build next-generation borderless financial services for consumers and businesses alike. The company has more than a 95% crypto market share in Mexico and more than 60% in Argentina. Last year, Bitso also processed around $1.2B in remittances in partnership with Ripple in the United States.

The investment will be used to continue providing access to crypto currencies for local residents and expand operations in its newer markets in Argentina and Brazil.

Read more on TechCrunch.

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