MercadoBitcoin.com Holding Company Snags $50M in Series B Funding

Brazilian unicorn 2TM Group, the holding company for Latin American cryptocurrency exchange MercadoBitcoin.com on Tuesday (Nov. 30) announced the second end of a $50.3 million Series B fundraising round that also closed in July with a $200 million investment by SoftBank.

Crypto and blockchain expert funds 10T and Tribe Capital, Brazilian companies Traders Club, Pipo Capital and Endeavor were among the investors in 2TM’s latest funding effort, the company announcement said.

“We have grown to more than 3.2 million customers today, which is equivalent to 80% of individual accounts at the Brazilian Stock exchange,” said CEO Roberto Dagnoni, noting 2TM will speed up its international expansion in Latin America with the fresh capital, targeting Mexico, Argentina, Chile and Colombia.

2TM has added more than 400,000 clients since starting the Series B fundraising round this summer. The company expects to have more than 100 assets listed by the end of the year.

2TM has invested in stock lending marketplace SL Tools and credit receivable register CERC, and has a credit receivables tokens partnership with Itaú Unibanco, as well as a strategic partnership with Comerc Energia to sell renewable energy tokens.

“Both companies have trusted and understood the transformational potential of the market infrastructure we are building: it’s digital, it’s accessible, it’s available 24/7, with immediate liquidity,” said Dagnoni in the company announcement.

The company also invested in crypto-NFT ecosystem startups, including Fingerprints DAO, Tropix and Block4.

“Our international expansion and the increasing offer of new products based on the technology that gave life to bitcoin are just beginning,” said Dagnoni. “Tribe and 10T will bring their expertise in the blockchain segment, which is even more relevant than the amount invested.”

Related: MercadoLibre Customers in Brazil Getting Crypto Investment Access Through Digital Wallet

Fellow Brazilian company MercadoLibre Inc. will soon allow MercadoPago customers in Brazil to buy, sell and hold cryptocurrencies in their digital wallets after piloting the program with a small group of customers. In the future, MercadoLibre will expand the offering to other Latin American markets.