- Companies
- Bitso
Last Bitso valuation
$2.2B
Series C · May 2021
Last Bitso funding round
$250M
Series C · May 2021
Cumulative funding Bitso raised
$316M
across 5 funding rounds
Key investors in Bitso
Digital Currency Group
Pantera Capital
QED Investors
FundersClub
Kaszek
Cometa
About Bitso
Bitso is a Mexican financial services company built around a cryptocurrency exchange, founded in January 2014 by Daniel Vogel, Ben Peters and Pablo Gonzalez and headquartered in Mexico City. It lets customers buy, sell, hold and transfer cryptocurrencies against Mexican pesos, Argentine pesos, Colombian pesos, US dollars and Brazilian reais, and also offers payments, savings and stock investing. It has local operations in Argentina, Brazil, Colombia, the United States and Mexico. Spanish-language Wikipedia reports about 8 million users in December 2023, up from roughly one million at its Series B in December 2020. It raised USD 250 million in 2021 at a valuation of about USD 2.2 billion, and its own acquisitions are Unisend Mexico in 2015 and Quedex in 2021. Its Bitso Business unit serves companies with cross-border payments.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$2.2B (May 2021)
Bitso Valuation
Bitso is currently valued at $2.2B, based on its Series C in May 2021. Read the announcement ↗
The $250M round was led by Coatue and Tiger Global, with participation from Pantera Capital, 1Sharpe Capital, Cometa, Kaszek, QED Investors and 5 other investors.
Bitso valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2021 | Series C | $2.2B |
Bitso Funding History
Bitso has raised a total of $316M across 5 funding rounds.
Bitso's first fundraising round was a $2M seed round in June 2015. The most recent completed round was a $250M Series C in May 2021.
Bitso funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2021 | Series C | Coatue (lead); Tiger Global (lead); Pantera Capital; 1Sharpe Capital; Cometa; Kaszek; QED Investors; Invus Opportunities; Paradigm; Valor Capital Group; Bond; Base Partners | $250M | $2.2B | Bitso, Latin America's leading cryptocurrency exchange founded in 2014 and based in Mexico City, announced a $250 million Series C funding round on May 5, 2021, achieving a post-money valuation of $2.2 billion and becoming the region's first crypto unicorn. The round was co-led by Tiger Global and Coatue, with participation from new investors Paradigm, BOND, and Valor Capital Group, alongside existing backers QED Investors, Pantera Capital, and Kaszek. This funding followed a $62 million Series B in December 2020, bringing total known funding to approximately $316 million at the time. Bitso provides a regulated platform for buying, selling, holding, and transacting over 120 cryptocurrencies, targeting markets in Mexico, Brazil, Argentina, and beyond, with services including retail and institutional exchanges. By early 2021, the company had surpassed 2 million users—doubling from 1 million in under 10 months—while more than doubling assets under management in the prior five months and exceeding its full 2020 transaction volume in Q1 2021 alone. It also processed over $1.2 billion in international payments, including remittances, during 2020, claiming dominant market share with 95% in Mexico and over 60% in Argentina. The capital was earmarked for expansion, particularly in Brazil following a recent launch, and potential entry into other Latin American countries like Colombia, where it gained regulatory approval for fintech testing in January 2021. Bitso positions itself at the intersection of crypto and traditional finance to deliver low-cost, frictionless services to underserved populations. |
| Dec 2020 | Series B | Kaszek (lead); QED Investors (lead); Pantera Capital; Coinbase Ventures; Endeavor Catalyst; Bossa Invest | $62M | - | Bitso, the Mexico-based cryptocurrency exchange and financial services platform, closed USD 62 million of financing on 9 December 2020, a Series B led by Kaszek Ventures and QED Investors. Existing shareholders Coinbase Ventures and Pantera Capital took part as follow-on investors. The company had been launched six years earlier, served about one million users, mainly in Mexico and Argentina, and employed roughly 200 people. It holds a Distributed Ledger Technology licence from the Gibraltar Financial Services Commission. It was the first investment in the crypto sector for both lead investors. |
| Oct 2019 | Strategic investment | Ripple (lead); Pantera Capital; Jump Capital; Coinbase; Digital Currency Group | - | - | Bitso announced on 14 October 2019 that it had raised an undisclosed sum in a round led by Ripple, with participation from Coinbase and Jump Capital. Existing investors Digital Currency Group and Pantera Capital also took part. The Mexican crypto exchange, which had operated in Mexico since 2014 and claimed more than 750,000 users there, said it would use the capital to expand into Argentina and Brazil. The round followed the USD 2.5 million Series A of 2016 and preceded the USD 62 million Series B led by Kaszek Ventures and QED Investors in December 2020. Ripple, the payments technology company, had worked with Bitso on cross-border transfers using its network, which made the investment a strategic as well as a financial one. Bitso offers retail trading of bitcoin and other cryptocurrencies against Latin American currencies. |
| Sep 2016 | Series A | MONEX (lead); Cometa; Xochi Ventures; Digital Currency Group; FundersClub; Blockchain Tech LTD; Bitcoin Capital | $3M | - | Bitso, the Mexican bitcoin exchange founded in 2014, raised USD 2.5 million in a Series A round announced at the end of September 2016. The round was led by Monex Group, a Mexican foreign exchange firm, and included the local venture firms Variv Capital and Xochi Ventures. Digital Currency Group, FundersClub, Bitcoin Capital and Blockchain Tech Limited also took part. The round brought the total raised by the company to USD 4.35 million, following a USD 1.85 million seed round from Digital Currency Group and FundersClub. The money was meant to take the exchange across Latin America. Bitso describes itself as Mexico's first bitcoin exchange, offering bitcoin trading against Mexican pesos and a currency exchange service that uses the Ripple network for transfers. |
| Jun 2015 | Seed | Bitcoin Opportunity (lead); Digital Currency Group; FundersClub | $2M | - | Bitso, the Mexican bitcoin exchange founded in 2014, raised a USD 1.85 million seed round in 2015 from Digital Currency Group and FundersClub, with the financing announced in June 2015. The round preceded its USD 2.5 million Series A of September 2016, which brought total funding to USD 4.35 million. CoinDesk reported the seed round as led by Bitcoin Opportunity Corp, the fund backed by Barry Silbert, with undisclosed angel investors also taking part. Digital Currency Group and FundersClub later participated in the Series A as well. Bitso describes itself as Mexico's first bitcoin exchange and offers bitcoin trading against Mexican pesos together with a currency exchange service that uses the Ripple network for transfers. The exchange had launched in April 2014 and had recently acquired its competitor Unisend Mexico. |
Who has invested in Bitso?
25 investors have backed Bitso across its funding rounds, including Digital Currency Group, Pantera Capital, QED Investors, FundersClub, Kaszek and Cometa.
Lead investors include Coatue, Tiger Global, Kaszek, QED Investors, Ripple and 2 other investors.
Bitso Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Oct 2019 | ||
| 3 | Participant | Jun 2015 | ||
| 2 | Participant | Sep 2016 | ||
| 2 | Lead | Dec 2020 | ||
| 2 | Lead | Dec 2020 | ||
| 2 | Participant | Jun 2015 | ||
| 1 | Lead | Jun 2015 | ||
| 1 | Participant | Oct 2019 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | Oct 2019 | ||
| 1 | Participant | May 2021 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Bitso
Bitso has acquired 2 companies to date.
Last acquisition by Bitso was on February 12th 2021. Bitso acquired Quedex for undisclosed valuation.
Latest Acquisitions by Bitso
| Description | Quedex is a Gibraltar-regulated cryptocurrency derivatives exchange offering Bitcoin-denominated futures and options on BTC/USD. Launched in 2018, it supports leveraged trading up to 20x with a matching engine processing 100,000 orders per second. The platform emphasizes non-custodial trading via multisig wallets and integrates with Lightning Network for instant settlements. Based in Gibraltar, Quedex serves institutional traders seeking volatility hedging in digital assets. | Unisend Mexico is the Mexican bitcoin exchange operation of Unisend, the Argentine exchange that launched in Mexico in September 2014 as the first step in its Latin American expansion. It was described by Fortune as a smaller Mexican bitcoin exchange operating alongside Bitso in a market that was still small. In June 2015 it was acquired by its Mexican competitor Bitso, which Fortune described as an effort to achieve scale in the burgeoning bitcoin market in Mexico. The value of that deal was not shared. The Argentine Unisend exchange was a separate business and was acquired by BitPagos in September 2015 in an undisclosed transaction, according to CoinDesk's coverage of the company. |
| HQ Country | Gibraltar | |
| HQ City | Gibraltar | - |
| Deal Date | 12 Feb 2021 | 10 Jun 2015 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Bitso acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by Bitso
Bitso has invested in 6 companies to date.
Latest investment by Bitso was on May 18th 2026. Bitso invested in Checker in their $8M Seed round.
Latest Investments by Bitso
| Description | Checker provides infrastructure for the next generation of securities, money, and digital value. | Latitude is a global payments system linking stablecoin-based settlement to local currency payout systems. | BlindPay is a developer-focused fintech platform offering virtual U.S. bank accounts with domestic routing and account numbers for international businesses. Launched in 2023, it enables instant ACH transfers, wire receipts, and payouts with KYC compliance at under 1% fees. Headquartered in Delaware, it powers SaaS companies in Europe and Latin America. | - | |
| HQ Country | - | ||||
| HQ City | New York City, NY | Houston, TX | San Francisco, CA | - | |
| Deal Date | 18 May 2026 | 30 Mar 2026 | 7 Aug 2025 | 17 Jun 2025 | |
| Round | Seed | Seed | Seed | Seed | |
| Raised | $8M | $8M | $3M | $9M | |
| Investors | Breed; Galaxy Ventures; Pharsalus Capital; Velocity Ventures; Cerulean; DFS Lab; Al Mada Ventures; Airtm; Framework Ventures; Aquanow; IGNIA; SNZ Holding | Solana Foundation; New Enterprise Associates; Coinbase Ventures; Faction; Paxos | Caetano Lacerda; Acacia Venture Capital Partners; Y Combinator; Raphael Dyxklay; Jawed Karim; 468 Capital; Transpose Platform Management | Haun Ventures; Castle Island Ventures; Coinbase Ventures; Oak HC/FT; MAYA Capital; Paxos | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Bitso Competitors
Bitso competitors include listed companies like Bullish and Sharplink, and private ones like 1inch, Story Protocol, CoinDCX and Mercado Bitcoin.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2.3B | - | ||
| Private | - | - | $2.3B | - | ||
| Private | $141M | - | $2.1B | 15.2x | ||
| Private | - | - | $2.1B | - | ||
| Publicly listed | $245B | ($727M) | $3.4B | 8.4x | ||
| Publicly listed | $28M | ($734M) | $1.4B | 32.0x |
Bitso Public Comps
Bitso is still privately-owned, but its public comps include Hyperliquid Strategies, Galaxy Digital, Sharplink, Securitize, OSL Group, Bullish, Stewards, Rhino Bitcoin, HashKey Holdings and Chaince Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $9M | - | 309.3x | 115.7x | - | - | |||
| $60B | ($177M) | 0.1x | 0.2x | (48.0x) | 34.8x | |||
| $28M | ($734M) | 50.2x | 32.0x | (1.9x) | 96.6x | |||
| $62M | ($34M) | 21.9x | 19.0x | (39.5x) | (298.2x) | |||
| $62M | ($48M) | 15.9x | 10.8x | (20.8x) | (18.1x) | |||
| $245B | ($727M) | 0.0x | 8.4x | (4.0x) | 23.6x | |||
| - | - | - | - | - | - | |||
| $478K | ($417K) | 1380.9x | - | (1581.6x) | - | |||
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Common questions about Bitso
| When was Bitso founded? | Bitso was founded in 2014. |
| Where is Bitso headquartered? | Bitso is headquartered in Mexico City, Mexico. |
| Is Bitso publicly listed? | No, Bitso is a private, VC-backed company. |
| What is Bitso's valuation? | Bitso was last valued at $2.2B in its Series C in May 2021. |
| How much funding has Bitso raised? | Bitso has raised $316M across 5 funding rounds. |
| What was Bitso's last funding round? | Bitso's last funding round was a $250M Series C in May 2021, led by Coatue and Tiger Global. |
| Who are Bitso's investors? | Bitso's investors include Pantera Capital, Digital Currency Group, Cometa, Kaszek, QED Investors, FundersClub, Bitcoin Opportunity, Jump Capital, 1Sharpe Capital, Coinbase Ventures and 15 others. |
| Which companies are comparable to Bitso? | Companies comparable to Bitso include 1inch, Story Protocol, CoinDCX, Mercado Bitcoin, Bullish and Sharplink. |
| How many companies has Bitso acquired? | Bitso has acquired 2 companies, including Quedex and Unisend Mexico. |
| How many companies has Bitso invested in? | Bitso has invested in 6 companies, including Checker, Latitude, BlindPay, XFX, Crosspoint and Coin Center. |
| What was Bitso's last investment? | In May 2026, Bitso invested in Checker's $8M seed round alongside Breed, Galaxy Ventures, Pharsalus Capital and 9 other investors. |
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