Brazil’s Meliuz raises $32M to buy bitcoin, becomes nation’s first ‘bitcoin treasury’ fintech

Brazilian fintech Meliuz has raised 180.08 million reais (about $32.39 million) through a follow-on share offering to fund more bitcoin purchases, according to a securities filing on Friday.

The offering was priced at 7.06 reais per share—about 5% below Thursday’s closing price—and was managed by investment bank BTG Pactual, Reuters reported.

This move follows the company’s decision earlier this year to shift part of its cash reserves into bitcoin. Meliuz now describes itself as “the first bitcoin treasury company” in Brazil.

Founded in 2011 by Israel Salmen and Ofli Guimarães, Meliuz has built a large user base by blending cashback deals, discount coupons, and financial products like digital accounts and credit cards. The platform is available via its website, mobile app, and browser extension.

The company works with more than 800 retailers, both online and offline, and has grown to between 30 and 35 million registered users. To date, it has paid out over 94 million reais in cashback rewards.

Meliuz’s bitcoin bet places it alongside a growing list of public companies taking crypto onto their balance sheets—but it’s the first in Brazil to make that move part of its official strategy.