Belo, the Argentine digital wallet, announced today that received an investment of 3 million dollars in a seed financing round which was led by: CRV, The Venture city, NEWTOPIA, Latitude, Liquid 2, Infinity Ventures Crypto, Magma Partners and Sur VC.
As announced by Belo, this recent round of financing will allow them to continue developing their crypto digital wallet at a local and regional level. In addition to this, with the capital obtained, It is also planned to use it to strengthen its expansion strategy to other Latin American countries, add more talent, launch new solutions aimed at businesses and companies, invest in the development of new features, improve brand positioning and marketing strategy.
Manuel Beaudroit, CEO and Co-founder of Belo He stated that he was very motivated with this investment round, since for him, it reflects the trust that exists towards Belo and in the crypto development of Argentina and all of Latin America. “Our goal is to improve the user experience, since people are the main axis of our brand. In Belo we have had strong growth since we launched the app in September 2021, which shows the growing interest of people in the crypto world and our product”, commented.
“We are interested in more people who are not being able to access quality financial services to be able to take advantage of what decentralized finance has to offer and in this way take advantage of the potential that cryptocurrencies have for their daily lives. The use of crypto is expanding rapidly, especially in users who are excluded from the traditional financial system”added Beaudroit speaking in relation to the company’s interests in the present and future.
For its part, Andy Areitio, general partner of TheVentureCityone of the main participants in this round, praised Belo’s work in enabling people to easily pay, save and invest by leveraging DeFi. “Manuel and his team, made up of leaders in the Argentine crypto ecosystem, work tirelessly to guarantee greater autonomy to people in Latin America, giving them greater control over their future”said.
“At TheVentureCity, we are excited about the great opportunity Belo is seeking, the product mindset, and the incredible crypto talent it is attracting to beautiful Buenos Aires and around the world.”added Areitio.
In addition, Mariano Mayer, Managing Partner of Newtopiastated that he was surprised with the execution capacity that Beaudroit has developed in Belo, and highlighted the focus on the user and the construction of the Community. “That is possible because they built a great team. These aspects are the key to the enormous challenge that has been proposed: Improving financial inclusion through crypto. We are certainly more than happy to share the path of Belo and Manuel from Newtopia”he expressed.
In this sense, with the funds acquired in this new round, Belo aspires to add 1 billion users from all over the world to its platform in the long term, being completely interoperable between local currencies and cryptocurrencies.
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