Mercado Bitcoin Parent Company Raises Another $50M In Second Closing Of Its Series B Round

Announcements, Investing, News | December 1, 2021 By:

Brazilian unicorn 2TM Group, parent company of crypto exchange Mercado Bitcoin, has raised an additional $50.3 million in a second closing of its Series B round.

U.S.-based 10T and Tribe Capital, crypto & blockchain expert funds, Brazilian companies Traders Club, Pipo Capital and Endeavor also joined as new investors. The round had its first closing in July, when SoftBank invested $200 million.

The 2TM Group manages a range of digital asset services and solutions. Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, is the crown jewel in its portfolio. In the first five months of 2021, the exchange processed transactions totaling almost $4 billion in volume. Sister companies include Meubank, a multi-asset wallet and account service currently waiting for a Brazilian Central Bank license, Bitrust, a qualified digital custodian, Clearbook, an equity crowdfunding platform, MBDA, an asset tokenizer, Mezapro, which provides services to institutional investors, and the Blockchain Academy, the group’s educational arm.

According to the group, the latest funding further solidifies itss position among other crypto-native unicorns worldwide.

“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 Roberto Dagnoni, CEO of 2TM Group. “This growth reinforces Brazilians’ appetite for digital assets and the great transformation that is hitting the traditional financial market”. According to Roberto, Mercado Bitcoin registered a trading volume of about 40 billion reais (app. $7 billion USD) between January and October, twice the trading volume recorded from 2013, when it was founded, through December 2020. “On top of that, we have added more than 400,000 new clients since we launched the current round and plan to have more than 100 assets listed by year end.”