fbpx

Payments Startup Celo Raises $20M From a16z, Electric Capital

bit2Big > Bitcoin News > Payments Startup Celo Raises $20M From a16z, Electric Capital

Mobile-focused blockchain payments startup Celo has raised $20 million from the likes of Andreesen Horowitz (a16z), Greenfield One and Electric Capital.

According to a press release on Wednesday, the funding will go towards fleshing out its suite of offerings.

Celo is a proof-of-stake blockchain built on Ethereum, designed to support stablecoins and tokenized assets, while utilizing cellphone numbers to secure a user’s public keys.

To date, the startup says it has raised more than $65 million from high-profile industry backers including Polychain Capital, Reid Hoffman, Jack Dorsey, Coinbase Ventures, among others.

“We now have the technology to create a better financial system, a rich ecology of digital assets and products that allow individuals and organizations to … transact and manage risk,” said Celo co-founder Rene Reinsberg.

Since Celo’s initial development in 2017, the project has launched a mainnet, a native token (CELO), a stablecoin (cUSD), a mobile payments app and has been listed on major exchanges including Coinbase and Binance.

Bit2Big

Bit2big offers global digital finance solutions based on blockchain, cryptocurrency investments and blockchain services.

With a presence in Switzerland, Nigeria, Rwanda and Uganda we are driving the adoption of blockchain technologies in the east and west Africa.

Transformative, empowering, progressive and integral. At Bit2big we believe in ownership, financial stability and having control over your future.

News

Private climate funding is the next finance bubble
January 10, 2022By
2022: You’re not too late to be early
January 4, 2022By
Ozzy Ozbourne, Black Sabbath Frontman Who Purportedly Bit the Head Off a Bat Onstage, Is Betting Fans Will Be Hungry for His New NFTs
December 28, 2021By

Recent Cases

Related Posts