2TM Group, the parent of Brazil’s cryptocurrency exchange Mercado Bitcoin, has closed an expanded Series B funding round worth $50.3 million. The Block.
In July 2TM Group attracted $200 million from SoftBank Latin America Fund, becoming the eighth-largest unicorn in Latin America.
Among the new investors are the US funds 10T and Tribe Capital, as well as Brazilian companies Traders Club, Pipo Capital and Endeavour.
2TM will deploy the raised funds to expand in Latin America. As priority markets, the company named Argentina, Chile, Colombia and Mexico.
According to the company, Mercado Bitcoin is the leading cryptocurrency exchange in the region. From January to October, trading volume amounted to 40 billion reais (about $7.1 billion at current rates).
Earlier in January, Mercado Bitcoin attracted $37.4 million to expand its presence in Latin American markets.
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