In 2014, three founders set off on a tremendous journey to democratize access to money that would culminate in the renowned and largest exchange in Spain today. We at Valhalla Capital are proud to announce our investment in Bit2Me, which currently serves over 300,000 users and 100 countries, to support international expansion of its current suite of products and services across Europe, LATAM, and Africa.
A Garage Startup Success Story
At Valhalla Capital, we focus on scrappy founders building toward a future of decentralized finance and promulgating the original, core ethos of cryptocurrency — to create open, democratic financial systems and access to easy-to-use and affordable financial products for all.
This particular ethos emanates from Bit2Me’s core. Out of their pure passion and relentless belief in the potential of Bitcoin and blockchain technology, the co-founders bootstrapped it from its humble, three-musketeers’ beginning to a company with over 100 employees. All the while, they have kept the needs of the user at the forefront, and recognized early on that providing education and knowledge is just as valuable as the products and tools themselves.
To that end, the platform’s incredible focus on education led to the creation of the Bit2Me Academy, which boasts hundreds of articles breaking down specific cryptocurrency projects and countless courses and videos about key blockchain concepts, the largest and most well-developed trove of informational content in the Spanish-speaking world.
The Potential in LATAM and Beyond
Above all, we are most excited about the end-to-end product suite the company has built to drive further momentum behind adoption around the world. It is obvious that Africa will be a titanic growth center for crypto in the years to come. Given their advantage in resources in the Spanish language, we think Bit2Me is especially suited to bring significant competition to incumbents while broadening access and increasing educational resources for the overall LATAM market.
Zooming in on our own experience specific to countries in LATAM, we note that the region is a veritable pressure cooker of intense interest and passion contained only by a patchwork of antiquated regulation and lack of blockchain-specific education. Nonetheless, it is evident through widely-publicized media announcements and opinions of leadership in El Salvador, Columbia, Brazil, and more that monumental change is not only inevitable, but at the doorstep.
In many such LATAM countries, under-the-table OTC orders dominate amidst a miasma of vague regulation and irregular enforcement. Educational Spanish social media accounts have seen wild surges in users and engagement. Interestingly, we have even heard from a well-known and televised pastor that upon mentioning cryptocurrencies to his congregation, the younger members cheered and applauded. He would go on to set up a Coinbase institutional account to accept cryptocurrency donations a week later.
Within this climate, the breadth of services in Bit2Me’s suite —educational resources, fiat-to-crypto onboarding, user friendly wallets, intuitive trading functionality, savings accounts, a cashback card, lending and OTC services — are well-positioned to onboard the next hundred million users and move them one step forward to global accessibility and greater financial inclusion. Furthermore, with the launch of the Bit2Me token, which will be the largest token offering ever conducted out of Spain, the company will be able to pass on many of the benefits of ecosystem growth to the community.
It comes as no surprise that Bit2Me has added industry veterans such as the former CEO of Coinbase Europe, Zeeshan Feroz, and the former director of Kraken Europe, Raul Oliveira, to its ranks. We believe the company is at the ground floor and poised to unlock a Cambrian explosion of value in the Spanish-speaking market and beyond.
At Valhalla Capital, we look forward to supporting the growth of Bit2Me and bringing fresh ideas, integration opportunities and partnerships among our portfolio companies and greater network.