Bitso secures $62m funding round

Mexican crypto exchange Bitso has collected a massive $62m investment in a round led by QED Investors and Kaszek Ventures.

Coinbase Ventures, the venture arm of crypto exchange Coinbase which recently faced a backlash for how it allegedly mistreated black employees, and Pantera Captial also participated in the raise.

Nigel Morris, co-founder and managing partner of QED Investors, and Nicolas Szekasy, co-founder and managing partner at Kaszek Ventures, are joining the board of Bitso.

“We have been talking to QED and Kaszek for a really long time and they have been interested in crypto but hadn’t pulled the trigger until now,” said Daniel Vogel, CEO and co-founder of Bitso, when speaking with CoinDesk. “I think the conviction from them is because we are really focused on making this technology accessible to the people of Latin America.”

Last time FinTech Global reported on Bitso, it had just raised a $2.5m investment round in 2016.

Since then, Bitso has grown its userbase to more than a million people using its services. According to Vogel, the company controls 97% of the Mexican crypto market and 77% of the Argentinian one.

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