Bitso, a popular Coinbase-backed Mexican cryptocurrency exchange platform, has just announced it has raised $62M through a Series B funding round, CoinDesk has reported.
The round has reportedly been led by investment funds Kaszek Ventures and QED Investors.
The exchange plans to use the funds to consolidate its presence in the region as well as to expand in Brazil, an emerging market with great possibilities.
QED co-founder Nigel Morris and Kaszek Ventures co-founder and managing partner Nicolas Szekasy will also join Bitso's board of directors following their investment in the company.
While the funding round has been led by these two companies, other popular industry actors such as Coinbase and Pantera Capital have also taken part in it.
Bitso raised funds for the last time in 2019. The company expanded its operations in Argentina in February this year and has plans to continue expanding in the region as well as internationally over the coming months.
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