2TM Group, the parent company of Mercado Bitcoin, the leading cryptocurrency exchange in Latin America, today announced that Mercado Bitcoin has raised $200 million from the SoftBank Latin America Fund. The fundraise represents the largest Series B round in Latin America’s history and SoftBank’s largest investment in a Latin America crypto company. The investment values 2TM Group at $2.1 billion, making it the eighth most valuable unicorn in Latin America. 

Mercado Bitcoin will use the funds to increase its scale, expand its offerings and invest in infrastructure to meet the soaring demand for crypto in the region. The company has seen significant growth over the past year, with its client base reaching 2.8 million in 2021 –more than 70% of the entire individual investors base on Brazil’s stock exchange. Between January and May 2021, approximately 700,000 new customers signed-up to use Mercado Bitcoin’s services. During the first five months of the year, Mercado Bitcoin also saw its trade volume increase to $5 billion USD, surpassing the total for its first seven years combined.

The new funding round will also enable Mercado Bitcoin to grow its team to 700 by the end of 2021, as well as accelerate growth across 2TM Group’s portfolio, which will also include digital wallet provider MeuBank, subject to regulatory approvals. In 2021, 2TM Group will also launch Bitrust, the first digital custodian in Latin America, subject to regulatory approval.