- Companies
- Bitso
Last Bitso valuation
$2.2B
Series C · May 2021
Last Bitso funding round
$250M
Series C · May 2021
Cumulative funding Bitso raised
$315M
across 3 funding rounds
Key investors in Bitso
QED Investors
Pantera Capital
Kaszek
Cometa
Tiger Global
Coatue
About Bitso
Mexico City-headquartered Bitso serves as Latin America's leading cryptocurrency exchange. The platform supports trading of Bitcoin, Ethereum, and over 50 altcoins, with fiat on-ramps in local currencies across Mexico, Brazil, Argentina, Colombia, and El Salvador. Bitso enables mobile payments, remittances, and institutional custody services through its API integrations. Founded in 2014, the exchange processes millions in daily volume and partners with Mercado Pago for broader fintech accessibility in the region.
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 $315M across 3 funding rounds.
Bitso's first fundraising round was a $3M Series A in September 2016. 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, a Mexico City-based cryptocurrency platform founded in 2014, positions itself as the largest and most trusted crypto exchange in Latin America, holding over 95% market share in Mexico and expanding into Brazil and Argentina. It processes over $1 billion in remittances from the US to Mexico out of a $36 billion annual flow, offering more than just exchange services including cross-border capabilities and banking features for seamless crypto operations. The $62 million Series B round on September 12 or December 9, 2020, was led by Kaszek Ventures and QED Investors, with participation from existing investors Coinbase Ventures and Pantera Capital, bringing total funding to about $81 million including a prior $15 million Series A in 2019. New board members included Nigel Morris from QED and Nicolas Szekasy from Kaszek. Funds were earmarked for growth in Latin American markets, developing new crypto products for businesses and individuals launching in 2021, and powering its engineering team. Bitso had amassed over one million users by late 2020. This marked the first crypto investment for Kaszek and QED, who highlighted Bitso's strong team and exponential growth potential in disrupting traditional financial services. |
| Sep 2016 | Series A | MONEXgroup (lead); VARIV; Cometa; Xochi Ventures; Digital Currency Group; FundersClub; Blockchain Tech LTD; Bitcoin Capital | $3M | - | - |
Who has invested in Bitso?
22 investors have backed Bitso across its funding rounds, including QED Investors, Pantera Capital, Kaszek, Cometa, Tiger Global and Coatue.
Lead investors include Coatue, Tiger Global, Kaszek, QED Investors and MONEXgroup.
Bitso Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Dec 2020 | ||
| 2 | Participant | Sep 2016 | ||
| 2 | Lead | Dec 2020 | ||
| 2 | Lead | Dec 2020 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Lead | Sep 2016 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | Dec 2020 | ||
This data is available for Pro users. Sign up to see all 22 Bitso investors. Start Free Trial | ||||
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 1 company 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. |
| HQ Country | Gibraltar |
| HQ City | Gibraltar |
| Deal Date | 12 Feb 2021 |
| Valuation | 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 | |||||
This data is available for Pro users. Sign up to see all Bitso investments and their VC round multiples. Start Free Trial | |||||
Bitso Competitors
Bitso competitors include listed companies like Sharplink and Securitize, 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 | $28M | ($734M) | $1.8B | 39.9x | ||
| Publicly listed | $62M | ($34M) | $1.5B | 22.2x |
Bitso Public Comps
Bitso is still privately-owned, but its public comps include Sharplink, Securitize, Hyperliquid Strategies, OSL Group, HashKey Holdings, BitGo Holdings, Indokripto Koin Semesta, Rhino Bitcoin, Stewards and Galaxy Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $9M | - | 308.0x | 162.2x | - | - | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
This data is available for Pro users. Sign up to see all Bitso competitors and their valuation data. Start Free Trial | ||||||||
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 $315M across 3 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, Cometa, Kaszek, QED Investors, VARIV, MONEXgroup, 1Sharpe Capital, Coinbase Ventures, Xochi Ventures, Digital Currency Group and 12 others. |
| Which companies are comparable to Bitso? | Companies comparable to Bitso include 1inch, Story Protocol, CoinDCX, Mercado Bitcoin, Sharplink and Securitize. |
| How many companies has Bitso acquired? | Bitso has acquired 1 company, including Quedex. |
| How many companies has Bitso invested in? | Bitso has invested in 6 companies, including Checker, Latitude, BlindPay, XFX, New Era Technology 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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