- IBEX Mercado closed a $4 million seed spherical funding.
- The seed spherical locations a $20 million valuation on IBEX as they search to broaden within the Americas and Europe.
- The investor class consists of Stillmark, LUM Ventures, Fulgur Ventures and others who share IBEX values in helping “previously-neglected people” acquire entry to unprecedented financial alternative.
IBEX Mercado, an infrastructure firm that on-boards banks and companies to Bitcoin and the Lightning Network, secured $4 million in a seed spherical of investor funding, in accordance to a press launch despatched to Bitcoin Magazine.
Expansion and buyer acquisition are set in IBEX’s reticle because the $20 million valuation, fueled by Stillmark, LUM Ventures, Fulgur Ventures, Hivemind Ventures and Ten31, converge on the intention of development within the Americas and Europe.
“Many people still have the wrong idea about Bitcoin,” stated founder and CEO of IBEX Mercado, Jose Luis Lemus, per the discharge. “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 within the rollout of bitcoin as authorized tender in El Salvador. They helped companies like Starbucks obtain spectacular turnarounds for implementing the Lightning Network, permitting customers within the nation to transact with their bitcoin. The small Guatemala-based firm holds the values and wishes of the unbanked on the forefront of its thoughts with every step it takes in the direction of reaching its hyperbitcoinization targets.
“It’s obscene that in the 21st century, a third of the planet remains unbanked and an even greater number are underbanked – including in the world’s richest societies,” Lemus stated. “The Lightning Network will bring these people into the global economy, enabling them to transact competitively and equitably, and giving them charge of their own financial destiny for the first time in their lives.”
IBEX finds itself accompanied by many funding companies eyeing the rising implementations out there to companies via Lightning Network integration. As Lightning growth continues, IBEX seeks to put together the world for what they see coming subsequent.
“By unlocking this immensely long-tail of previously neglected people, they gain instant access to a huge range of customers and new revenue streams,” Lemus stated. “This investment is testament to the unprecedented economic opportunities that Lightning is about to bring to the world.”
