Bit2Me, a Spanish cryptocurrency exchange and wallet provider, has secured €14 million in a funding round led by Inveready Technology Investment Group. The investment will be used to expedite the company’s expansion into Latin America, where it aims to become a leading player in the cryptocurrency market.
Founded in 2014, Bit2Me has grown to become one of the most popular cryptocurrency exchanges in Spain, with over 300,000 registered users. The company offers a range of services, including buying and selling cryptocurrencies, wallet storage, and payment processing.
With the new investment, Bit2Me plans to expand its services into Latin America, where it sees significant growth potential. The company aims to offer its services in countries such as Mexico, Colombia, Argentina, and Chile, where there is a growing demand for cryptocurrencies.
According to Bit2Me CEO Leif Ferreira, the company’s expansion into Latin America is a natural step in its growth strategy. “We see a huge opportunity in Latin America, where there is a growing interest in cryptocurrencies and blockchain technology,” he said. “We believe that our platform can help to democratize access to these technologies and provide people with greater financial freedom.”
The funding round was led by Inveready Technology Investment Group, a Spanish venture capital firm that specializes in technology startups. Other investors included Red Fish Capital and Encomenda Smart Capital.
Inveready Technology Investment Group Managing Partner Ignacio Fonts said that the firm was impressed by Bit2Me’s track record and growth potential. “Bit2Me has established itself as a leading player in the Spanish cryptocurrency market, and we believe that it has the potential to replicate this success in Latin America,” he said.
The investment comes at a time when the cryptocurrency market is experiencing significant growth, with Bitcoin reaching all-time highs and other cryptocurrencies also seeing strong gains. This has led to increased interest in cryptocurrency exchanges and wallets, as more people look to invest in digital assets.
Bit2Me’s expansion into Latin America is part of a broader trend of cryptocurrency companies looking to tap into the region’s growing market. According to a report by Chainalysis, Latin America saw a 1,000% increase in cryptocurrency adoption between July 2019 and July 2020, driven by factors such as economic instability and high remittance fees.
Overall, Bit2Me’s €14 million investment is a significant milestone for the company and a sign of its growing ambitions. With its expansion into Latin America, the company aims to become a major player in the global cryptocurrency market and help to bring greater financial freedom to people across the region.
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- Source: Plato Data Intelligence.