Spanish Crypto Exchange Bit2Me Raises $15 Million for Expansion in Spain and Latin America
Bit2Me, a prominent crypto exchange based in Spain, has successfully raised €14 million in funding to strengthen its position within the Spanish market and expand its operations into Latin America.
The exchange announced the news on Thursday, saying that the $15.3 million round was led by Investcorp, a global manager of alternative investment products for private and institutional clients with more than $50 billion in assets under management.
Other participants included Telefónica Ventures, the arm of Spanish multinational telecommunications company Telefónica dedicated to investing in technology startups, Silicon Valley-based venture capital fund Stratminds VC, Cardano via Adaverse, and the YGG fund and its CEO Gabby Dizon.
"This round closes during a 'crypto winter', where investors are looking for stable, mature companies with a good market position," per the press release.
The investment, said the company, will enable it to proceed to "the next phase of its mission" - the global adoption of crypto.
The plan is, it said, "to consolidate itself as the main exchange in Spain and accelerate its expansion throughout Latin America, thus increasing its client portfolio and positioning itself as a leading player in the Web3 sector at an international level."
Leif Ferreira, co-founder and CEO of Bit2Me, said that,
"This financing will be a boost to get new clients, since with Investcorp we have an international partner with a lot of financial muscle and with Telefónica a channel to boost us in Latin America."
He added that the exchange has been working for more than two years on improving the platform in regard to product quality, regulation, and client protection.
Pablo Casadío, investor and CFO of Bit2Me, also noted that Bit2Me
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