CHICAGO–(BUSINESS WIRE)–Chicago Atlantic announced today the funding of a $16 million senior secured term loan to Margo, a cryptocurrency ATM operator that provides a secure and convenient way to instantly turn cash into digital currency.
Chicago Atlantic’s capital investment will help support Margo’s growing kiosk network.
“Margo is redefining the way consumers interact with digital currency, shaping the future of financial literacy by making cryptocurrency more accessible. We couldn’t think of a company better aligned with our people-first values and our drive to push innovation forward in categories of highest need. It’s an honor to partner with Margo as they expand their reach,” said Tony Cappell, Founding Partner of Chicago Atlantic.
Founded in 2019 as PowerCoin and rebranded in 2023, Margo’s user-friendly Bitcoin ATMs are featured nationwide in retailers including Royal Farms, H-E-B, Yesway, United Natural Foods Inc. (UNFI) and Ace Cash Express, among others. The company also includes a Private Client Desk, where individuals and institutions can trade $3,000 to $1 million in cryptocurrency per day across Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), NFTs or other tokens. Margo also helps business entities set up digital currency as a form of payment.
“Chicago Atlantic brought detailed solutions to the table designed to scale our business with the utmost care and confidence,” said Austin Haller, CEO of Margo. “Their experience in our cutting-edge industry will help propel our long-term objectives, and we look forward to empowering secure digital currency investments for years to come.”
About Chicago Atlantic
Chicago Atlantic is a private market investment manager combining deep expertise with an entrepreneurial approach to multi-asset class investing. Founding Partners John Mazarakis, Tony Cappell and Andreas Bodmeier established Chicago Atlantic in 2019 and have grown the firm’s private investment strategies to include opportunistic credit, private equity and impact investing. Chicago Atlantic has made over $2 billion in credit and equity investments to date.
Chicago Atlantic’s opportunistic credit strategy seeks to capitalize on North American investment opportunities that are time-sensitive, complex, or in dislocated markets, where risk is fundamentally mispriced. Focus areas are lending to esoteric industries, growth finance and liquidity solutions.
Chicago Atlantic’s team of over 70 professionals has offices in Miami, Florida and Chicago, Illinois. For more information on Chicago Atlantic’s financing products, visit chicagoatlantic.com.
About Margo
Margo is a leading cryptocurrency services provider rooted in the belief that financial empowerment should be inclusive and accessible to all. Margo breaks down barriers and offers its users a gateway to new financial possibilities through their network of Bitcoin ATMs. Margo’s user-friendly Bitcoin ATMs offer a secure and convenient way to convert cash into digital currency instantly. Whether you’re a seasoned cryptocurrency enthusiast or someone exploring the world of crypto, Margo’s mission is to make your journey as seamless as possible. Explore Crypto the Margo Way™ at MargoNetwork.com.
Contacts
Financing Contact for Chicago Atlantic
David A. Enright
Managing Director
(513) 725-7299
Media Contact for Chicago Atlantic
Alise M. Edgcomb
Managing Director, Public Relations
(419) 202 – 3988
Business Contact for Margo
Michael Tomlinson
Chief Revenue Officer
(877) 358-6169
Media Contact for Margo
Kirsten Jones
Director of Growth Marketing
(877) 358-6169
Source: https://thenewscrypto.com/chicago-atlantic-funds-margo-bitcoin-atm-network/