IBEX Mercado secured $4 million in funding through a seed round of investments strengthening the company’s goals for expansion in the Americas and Europe.
IBEX Mercado secured $4 million in funding through a seed round of investments strengthening the company’s goals for expansion in the Americas and Europe.
- IBEX Mercado closed a $4 million seed round investment.
- The seed round places a $20 million valuation on IBEX as they seek to expand in the Americas and Europe.
- The investor class includes Stillmark, LUM Ventures, Fulgur Ventures and others who share IBEX values in assisting “previously-neglected people” gain access to unprecedented economic opportunity.
IBEX Mercado, an infrastructure company that on-boards banks and businesses to Bitcoin and the Lightning Network, secured $4 million in a seed round of investor funding, according to a press release sent to Bitcoin Magazine.
Expansion and customer acquisition are set in IBEX’s reticle as the $20 million valuation, fueled by Stillmark, LUM Ventures, Fulgur Ventures, Hivemind Ventures and Ten31, converge on the intention of growth in the Americas and Europe.
“Many people still have the wrong idea about Bitcoin,” said founder and CEO of IBEX Mercado, Jose Luis Lemus, per the release. “It isn’t just a store of value, or even a faster and cheaper way of transacting: it’s the platform for the most audacious, transformative shift of financial power in history.”
IBEX was instrumental in the rollout of bitcoin as legal tender in El Salvador. They helped businesses like Starbucks[1] achieve impressive turnarounds for implementing the Lightning Network, allowing users in the country to transact with their bitcoin. The small Guatemala-based company holds the values and needs of the unbanked at the forefront of its mind with each step it takes towards achieving its hyperbitcoinization
