Chicago Atlantic announced 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, the company said.
“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.”
