Crypto trading platform Bitso secured $62 million funding

Bitso, a Mexico City-based crypto platform has now secured $62 million in a Series B funding round.

Bitso is founded by Daniel Vogel in the year 2014. It is a cryptocurrency platform with active one million users. The company has two primary products, firstly an application for new or experienced cryptocurrency users to buy, send, sell, or receive crypto easily, and secondly, Bitso Alpha, a professional-grade crypto trading platform.

The company has a team size of 200 employees from 25 different countries.

Daniel Vogel, CEO, and Co-Founder of Bitso, said, "Our mission is to give universal access to cryptocurrency and make crypto useful for people in their daily lives. Working with the brilliant, experienced teams at QED and Kaszek Ventures will help us further this mission. Today’s investment will fund our global strategy to offer the Bitso platform to consumers in other countries in Latin America with a particular focus on Brazil."

Nicolas Szekasy, Co-Founder and Managing Partner at Kaszek Ventures, said, "Bitso has built the leading crypto ecosystem in Latin America and is growing at an exponential rate. The team is by far the strongest in the region and combines deep technical knowledge with a great understanding of the market. Since they launched, they have developed a proprietary platform that includes exchange functionalities, cross border capabilities, and banking features that allow users to operate in the crypto world in a seamless and intuitive way."

The round was backed by the QED Investors and Kaszek Ventures with participation from Pantera Capital and Coinbase Ventures.

Post funding, Nigel Morris from the QED Investors and Nicolas Szekasy from the Kaszek join the company's Board of Directors.

The company as of now has plans to use the new funds to scale its growth and expand its engineering team.