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Tiger Global and Coatue Lead USD250m Series C for Mexican Crypto Exchange Bitso

5 May 2021

Tiger Global and Coatue led a USD250m Series C for Mexican crypto exchange Bitso, with participation from Valor Capital Group, BOND and Paradigm, and follow-on from KASZEK, QED Investors and Pantera Capital, at a reported USD2.2b valuation. KASZEK and QED led USD62m Series B in 2020 in the largest known blockchain-related VC investment in Latin America, according to LAVCA Data.

(Crunchbase) – Five months after announcing a $62 million Series B, Mexico City-based Bitso is back with a significant raise to push the cryptocurrency platform into unicorn territory.

The company raised a $250 million Series C that boosts its valuation to $2.2 billion, making it the first billion-dollar crypto company in Latin America, according to Daniel Vogel, co-founder and CEO of Bitso.

“We’ve seen incredible growth in Mexico and Argentina, and we just launched in Brazil last week,” Vogel told Crunchbase News. “It took us six-and-a-half years to get the first 1 million customers, but now we have 2 million, and the use cases have exploded. We are excited about the opportunity and now the chance to scale with new investors.”

Read more at Crunchbase.