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El Dorado raised $3M in a seed round led by Coinbase Ventures and Multicoin Capital to grow its user base and improve security features.

May 28, 2024•over 1 year ago

Amount Raised

$3 Million

Round Type

seed

BogotáPaymentsBlockchainFintechFinancial ServicesE Commerce

Investors

Multicoin CapitalCoinbase Ventures

Description

Colombian cryptocurrency wallet El Dorado raised $3M in a seed round led by Coinbase Ventures and Multicoin Capital. The funding will be used to invest in growing its user base and improving security features to meet regulations to enter new markets.

Company Information

Company

El Dorado

Location

Bogotá, Capital District, Colombia

About

El Dorado operates a peer-to-peer cryptocurrency wallet that allows users to make cross-border payments and earn additional income through stablecoin exchanges. Founded in 2020, El Dorado operates in Colombia, Venezuela, Argentina, Peru, Brazil, and Panama facilitating the exchange of stablecoins.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers