Bit2Me raises $15M to expand in Spain and Latin America.

Bit2Me, a leading cryptocurrency exchange in Spain, has raised $15 million in a funding round led by Investcorp.

The investment round also included Telefónica Ventures, the investment arm of Spain’s largest telecommunications company, Telefónica, as well as Stratminds VC, Cardano, and YGG Fund, Bit2Me said in a press release.

The funds will be used by Bit2Me to expand its presence in Spain, where the company was founded, and to accelerate its expansion in Latin America.

“This funding will boost our customer acquisition, especially thanks to Investcorp, an international partner with significant financial strength, and Telefónica, who will provide us with more channels in Latin America,” said Leif Ferreira, co-founder and CEO of Bit2Me, in a statement.

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In July 2022, Bit2Me acquired a majority stake in the Peruvian peer Fluyez, marking the first step in its search for acquisition opportunities in Chile, Colombia, and Uruguay, the company said at the time.

In February, Bit2Me obtained approval from the Bank of Spain to become the first provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets.

Edited by Aoyon Ashraf.