IBEX Mercado, a Guatemala City, Guatemala-based company that connects banks and businesses to Bitcoin via Lightning Network, raised $4M in Seed funding.
The round, which valued the company at $20m, was led by Stillmark, with participation from Fulgur Ventures, Hivemind Ventures and Ten31.
The company intends to use the funds to invest in development and marketing resources to roll out its services to more banks and large enterprises across the Americas and Europe.
Founded in 2018 and led by CEO Jose Luis Lemus, IBEX Mercado connects banks, businesses, and the world’s most financially excluded people to Bitcoin via Lightning Network. The company provides three core services:
- IBEX Pay, which enables merchants to accept online and POS payments through Lightning Network (LN)
- IBEX Hub, which connects users to the company’s Lightning-as-a-Service technology, making it easy for partners to integrate Lightning Network payments within their applications.
- IBEX App, which is designed for smaller merchant clients, enabling them to buy Bitcoin and receive payments in Bitcoin on any internet connected device.