Bitso, a Mexico-headquartered cryptocurrency trading platform developer, has completed a $62m series B round that included Coinbase Ventures, the strategic investment arm of peer Coinbase.
The round was co-led by venture capital firm Kaszek Ventures and investment firm QED Investors, each of which were making their first blockchain technology investments. The round also featured blockchain investment fund Pantera Capital.
Founded in 2014, Bitso runs a crypto trading platform tailored to the Latin American market. It has 1 million registered users spread across the company’s Bitso App and its professional-grade Bitso Alpha product.
Nigel Morris, co-founder and managing partner of QED Investors, has joined the company’s board of directors in conjunction with the round, as has Kaszek Ventures co-founder and managing partner Nicolas Szekasy.
Bitso’s co-founder and chief executive, Daniel Vogel, said: “Our mission is to give universal access to cryptocurrency and make crypto useful for people in their daily lives.
“Working with the brilliant, experienced teams at QED and Kaszek Ventures will help us further this mission. Today’s investment will fund our global strategy to offer the Bitso platform to consumers in other countries in Latin America with a particular focus on Brazil.”
Financial exchange operator Monex Group joined Digital Currency Group (DCG), Variv Capital, Xochi Ventures, FundersClub, Bitcoin Capital and Blockchain Tech to provide $2.5m in seed funding for Bisto in 2016.
The company added an undisclosed amount in an October 2019 round led by financial transfer technology producer Ripple that also featured Coinbase, DCG, Pantera Capital and Jump Capital.
