Brazil’s FinTech Melluse raised 180 million (approximately $32.39 million) through subsequent shares to fund more Bitcoin purchases, according to a securities application on Friday.
The offering is priced at 7.06 Reais per share (5% below Thursday’s closing price) and was managed by investment bank BTG Pactual, Reuters reported.
The move follows the company’s decision earlier this year to shift some of its cash reserves to Bitcoin. Meliuz currently describes himself as the “first Bitcoin finance company” in Brazil.
Founded in 2011 by Israeli Salmen and Ophe Gimares, Meliuz has built a large user base by blending financial products such as cashback transactions, discount coupons, and digital accounts and credit cards. The platform is available via websites, mobile apps and browser extensions.
The company has worked with over 800 retailers both online and offline, growing to 30-35 million registered users. To date, we have paid over 94 million Reais in cashback rewards.
Meliuz’s Bitcoin Bet will be sitting alongside the growing list of public companies that will take Crypto into its balance sheet, but Brazil is the first to make that move part of its official strategy.
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