Cryptocurrency Trading Platform Bitso Raises $250 Million in Funding Round

Bitso operates in Mexico, Argentina and Brazil

Mexican cryptocurrency trading platform Bitso has raised $250 million during a series C investment round, venture capital fund Cometa said. Cometa is a major investor in Bitso.

“Bitso becomes the first fintech in Mexico to reach a valuation of more than $1.0 billion in the market,” said Cometa

Bitso operates in Mexico, Argentina and Brazil, and is developing alternative uses for cryptocurrencies, such as sending remittances.

The funds raised represent 9% of Bitso’s equity, valuing the firm at about $2.2 billion, Cometa said.