Bit2Me, a leading Spanish crypto exchange, has raised $15 million in a funding round led by Investcorp.

The investment round also included Telefónica Ventures, the investment arm of Spain’s largest telecommunications company Telefónica, Stratminds VC, EMURGO and Gabby Dizon, CEO of YGG, Bit2Me said in a press release.

Funds will be used by Bit2Me to grow its position in Spain, where the company was born, and to accelerate its expansion in Latin America.

“This funding will boost our acquisition of new customers specially thanks to Investcorp, an international partner with significant financial muscle, and to Telefónica, who will give us more channels in Latin America,” Leif Ferreira, co-founder and CEO of Bit2Me, said in a statement.

In July 2022, Bit2Me acquired a majority stake in the Peruvian peer Fluyez, in what was the first step of a search for acquisition opportunities in Chile, Colombia and Uruguay, the company said at the time.

In February, Bit2Me obtained approval from the Bank of Spain to be the first provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets.

UPDATE (June 22, 16:29 UTC): Updates from company clarifying that Cardano and YGG Fund did not participate in the investment round, but EMURGO and Gabby Dizon did.