This Bitso company profile covers the company's valuation, revenue, funding rounds, investors and history. Bitso works in crypto and fintech, with a focus on crypto exchange and stablecoin payments. It was founded in 2014 and is headquartered in Mexico City, Mexico. Its latest valuation on record is US$2.2 billion (May 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Total funding | About US$315 million | 2021 | CB Insights |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| May 2021 | Series C | US$250M | US$2.2B | Tiger Global and Coatue (co-leads); Paradigm, BOND, Valor Capital Group, QED Investors, Pantera Capital, Kaszek | Crunchbase News |
| Dec 2020 | Series B | US$62M | Not disclosed | Kaszek and QED Investors (co-leads) | Fintech Global |
Bitso timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2014 — Bitso is founded in Mexico City by Daniel Vogel (CEO), Pablo González and Ben Peters.
- Dec 2020 — Series B: US$62M. Investors: Kaszek and QED Investors (co-leads).
- May 2021 — Series C: US$250M, valuing the company at US$2.2B. Investors: Tiger Global and Coatue (co-leads); Paradigm, BOND, Valor Capital Group, QED Investors, Pantera Capital, Kaszek.
- 2021 — Total funding: About US$315 million.
Investors
Overview
Bitso is the largest cryptocurrency platform in Latin America. Millions of people in Mexico, Brazil, Argentina and Colombia use its app to buy, sell and hold bitcoin, ether, stablecoins and other digital assets, and to send money across borders. Businesses use Bitso Business to make international payments and manage treasury with stablecoins, often settling in minutes instead of days. A significant share of its activity comes from remittances between the United States and Mexico, one of the world's largest remittance corridors, where stablecoins offer a faster and sometimes cheaper alternative to traditional money transfer services.
Daniel Vogel, the CEO, Pablo González and Ben Peters founded Bitso in Mexico City in 2014. Vogel, born in Venezuela, saw firsthand how inflation and capital controls hurt savers, which shaped his belief in digital assets as financial tools for Latin Americans. Bitso became Mexico's first crypto unicorn in 2021.
Products
- Consumer app: buying, selling and holding crypto and stablecoins, with local payment methods such as Mexico's SPEI transfers and Brazil's Pix.
- Bitso Business: cross-border payments, payouts and treasury services for companies, using stablecoins and local payment rails.
- Remittances: receiving money from the US and other countries, often through partners, with conversion into local currency.
- Bitso Alpha: an advanced trading interface.
- Stablecoins: support for dollar stablecoins and work on local-currency stablecoins in partnership with issuers.
Funding
Bitso raised a US$62 million Series B in December 2020, co-led by Kaszek and QED Investors. In May 2021 it raised a US$250 million Series C at a US$2.2 billion valuation, co-led by Tiger Global and Coatue, with Paradigm, BOND, Valor Capital Group and existing backers QED, Pantera Capital and Kaszek. Total funding reached about US$315 million. We haven't found a newer priced round, so the 2021 valuation, set near the peak of the crypto market, should be treated as historical.
Business model
Bitso earns trading fees and spreads on crypto purchases and sales, fees on cross-border and business payments, and income from treasury and other services. Business payments have become increasingly important because they generate more stable revenue than retail trading, which rises and falls with crypto prices. The company doesn't publish revenue, so we show it as not disclosed.
Competition
Bitso competes with global exchanges such as Binance, which has a large presence in Latin America, Coinbase and Kraken; with regional players such as Brazil's Mercado Bitcoin; with fintechs like Nubank and Mercado Pago, which offer crypto trading; and in remittances with Western Union, Remitly and Wise. Its advantages are local licences, deep integration with local payment systems and a strong brand in Mexico.
Bitso at a glance
Bitso is a Mexico City crypto platform founded in 2014 by Daniel Vogel, Pablo González and Ben Peters. It serves millions of users in Latin America with crypto trading, stablecoins and cross-border payments, and businesses through Bitso Business. It raised a US$250 million Series C at a US$2.2 billion valuation in May 2021, co-led by Tiger Global and Coatue.
Timeline
- 2014: founded in Mexico City.
- 2018–2020: expands into Argentina and Brazil and grows remittance flows.
- December 2020: raises a US$62 million Series B.
- May 2021: raises US$250 million at US$2.2 billion, becoming Mexico's first crypto unicorn.
- 2022–2023: cuts staff during the crypto downturn and focuses on business payments.
- 2024–2026: grows Bitso Business and stablecoin payments.
Why crypto has traction in Latin America
Several Latin American countries have experienced high inflation, currency devaluations or capital controls, making dollar-denominated stablecoins attractive as a store of value. Large remittance flows, especially from the US to Mexico and Central America, create demand for cheaper and faster transfers. Real-time domestic payment systems such as Pix in Brazil and SPEI in Mexico make it easy to move money in and out of crypto platforms. These conditions have made Latin America one of the world's most active regions for crypto adoption.
Stablecoins for business payments
Companies that trade internationally often face slow, expensive cross-border bank transfers, especially between emerging markets. Stablecoins let them move dollars around the clock and settle in minutes, with platforms like Bitso converting to and from local currencies at each end. Clearer stablecoin regulation in the US has encouraged more businesses and payment companies to use them, a trend Bitso is positioned to benefit from.
Who uses Bitso
Bitso's users range from individuals saving in stablecoins to protect against inflation and families receiving money from relatives abroad, to traders and businesses paying suppliers internationally. Payment companies and fintechs use its infrastructure to offer crypto and cross-border features to their own customers.
Risks
- Crypto volatility: trading revenue falls sharply in downturns.
- Regulation: rules in Mexico, Brazil and Argentina could change.
- Competition: global exchanges and large fintechs compete aggressively.
- Stale valuation: its 2021 valuation predates the crypto crash.
Questions for users and businesses
- What fees apply for buying, selling, sending and converting?
- Which licences does the platform hold in your country?
- How are customer assets held and protected?
The US–Mexico remittance corridor
Mexico receives more than US$60 billion a year in remittances, mostly from workers in the United States, making it one of the largest recipients in the world. Traditional money transfer services charge fees and exchange rate margins. Stablecoin-based transfers can reduce costs and settle almost instantly, although users still need ways to convert to pesos and withdraw cash, which is where Bitso's local banking connections matter.
Latest developments (October 2026)
Bitso has increasingly become a stablecoin and payments company. It reported in 2026 that stablecoins made up about 40% of retail crypto purchases on its platform and that more users bought stablecoins than Bitcoin for the first time, according to Publimetro, and that business stablecoin payment volumes rose 81% in the first half of 2026. It also launched payment corridors with Asia. No new valuation has been disclosed since its 2021 round at US$2.2 billion. See our crypto infrastructure guide.
What to watch
Watch for a new funding round, stablecoin payment volumes, regulatory developments and expansion of Bitso Business. Our guides to the largest private crypto companies and the largest Latin American startups give wider context.
Takeaways
Latin American users and businesses can use stablecoins for savings and cross-border payments. Founders can see how local payment integration creates an edge over global rivals. Investors should treat the 2021 valuation as a historical mark.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Bitso do?
Bitso is a crypto and fintech / crypto exchange and stablecoin payments company headquartered in Mexico City, Mexico. It was founded in 2014.
What is Bitso's valuation?
Bitso was valued at US$2.2 billion as of May 2021, according to TechCrunch. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Bitso make?
Bitso is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Bitso's latest funding round?
The most recent financing we have verified is a series c in May 2021: US$250M, at a valuation of US$2.2B. Source: Crunchbase News.
Who are Bitso's investors?
Investors named in public announcements include Tiger Global, Coatue, Paradigm, BOND, Valor Capital Group, QED Investors, Pantera Capital, Kaszek and Coinbase Ventures.
Who founded Bitso?
Bitso was founded in 2014 by Daniel Vogel (CEO), Pablo González and Ben Peters.
Is Bitso a public company?
No. Bitso is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Bitso headquartered?
Bitso is headquartered in Mexico City, Mexico.