Brazilian Fintech Unicorn 2TM is the holding company of Mercado Bitcoin, one of the continent’s leading cryptocurrency exchanges. The company once again completed its Series B financing and raised an additional US$50 million. This round of financing was led by US-based 10T and Tribe Capital, with other new investors also participating.

2TM raises another US$50 million to prepare for expansion

2TM is one of the largest financial technology groups in Latin America improve $50 million in Series B financing expansion. The second round of closing of this round was led by 10T and Tribe Capital, and other parties participated, including Traders Club, Pipo Capital and Endeavor.

The first round of financing ended in July, when it received $200 million from SoftBank. 2TM is the holding company of Mercado Bitcoin, one of Brazil’s leading cryptocurrency markets, and it is now seeking to expand its services to other countries on the African continent. The entry of companies such as 10T that made their first investments in the region may indicate that in terms of digital assets, people are still interested in the growth potential of the Latin American market.

Roberto Dagnoni, CEO of 2TM, stated that the company’s top priority is to enter the Mexico, Argentina, Chile and Colombia markets in the near future.

Significant increase

2TM has experienced significant growth this year, with the transaction volume between January and October being twice the record of Mercado Bitcoin from its inception in 2013 to December 2020. Regarding the growth of Mercado Bitcoin, Dagnoni emphasized:

Today, our customers have exceeded 3.2 million, which is equivalent to 80% of the personal accounts of the Brazilian Stock Exchange. This growth has increased Brazilians’ interest in digital assets and the dramatic changes that have impacted traditional financial markets.

2TM has also made diversified investments, positioning itself as a bridge company between digital assets and traditional financial markets.This ostensibly places it as a service to traditional investors and mechanism Want to get involved in the cryptocurrency market while still planning to reach retail Investors interested in digital assets.

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