Self-Service

Crypto ATM operator secures $16M

Image: iStock

December 26, 2023

Chicago Atlantic, a private investment firm, has made a $16 million senior secured term loan to Margo, a cryptocurrency ATM operator, according to a press release.

Founded in 2019 as PowerCoin and rebranded in 2023, Margo's bitcoin ATMs are available nationwide in retailers including Royal Farms, H-E-B, Yesway, United Natural Foods Inc. and Ace Cash Express.

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, Ethereum, USD Coin, NFTs or other tokens.