Fintech Valiu closes the seed round with $ 5.25 million. This was reported to Cointelegraph in Spanish through a statement.
“Since Valiu started construction in 2018, the founders have raised total capital of 5.25 million US dollars. Blockchange Ventures and Pomp led the Semilla round with Castle Island participation and current investors Y Combinator, IDEO Colab and Mercy Corps. ” they detailed in a statement.
Fintech started with transfers between Colombia and Venezuela. As they also pointed out in the statement, they currently offer dollar accounts and cross-border transfers.
“We plan to use our success to expand the range of US dollar-denominated financial services and offer savings, payments, investments and loans to businesses and individuals in Latin America regardless of income,” said Simón Chamorro, CEO of Valiu.
According to them, the goal is to protect Latin Americans from some of the highest rates of inflation and devaluation of the local currency.
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