Bitso, a cryptocurrency exchange based in Mexico, has raised $250 million in Series C funding round, led by Tiger Global and Coatue, TechCrunch reports. The funding round brings the company's total valuation up to $2.2 billion. Pantera Capital, Paradigm, BOND & Valor Capital Group, QED, and Kaszek also participated in the round.
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Daniel Vogel, Bitso Co-Founder and CEO, says the growth of the cryptocurrency ecosystem this year "has been remarkable" as it took the exchange six years to get its first million clients and less than 10 months later it has reached the 2 million mark. Based in Mexico, Bitso was founded back in 2014 by Vogel, Ben Peters (Bitso CTO) and Pablo Gonzalez (Bitso CDO). Currently, the exchange has over 300 employees across 25 countries.
Earlier this year, iHodl reported that Amazon published a series of job posts suggesting the e-commerce giant plans to launch a digital currency project in the Central American country. The project, which has not yet been officially announced by the company, appears to be aimed at maintaining the loyalty of the platform's Prime customers in Mexico.
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