Key Takeaways:
Tether led a $14M Series A funding round for Argentine crypto wallet Belo, dwarfing its 2022 seed round. This $14M round highlights aggressive investor bets on Latam crypto following Belo’s 3 profitable years. Next, Belo will use the $14M to expand into 6 new Latam nations and grow its existing base in Brazil. Belo Aims To Expand In Latam With Tether’s Backing“We entered this round with three years of profitable operations and a product that people use in their daily lives. We found an investor who understands what we’re building and who we’re building it for. That alignment is what brought us here. This round isn’t about sustaining the business. It’s about scaling it,”
The company highlighted that Tether’s involvement at this stage “reflects an alignment between the two companies to build a more open and accessible financial infrastructure,” with both companies focusing on implementing financial solutions that help users facing financial challenges overcome them.
“This round gives us the resources to build on what already works, expand our presence in the region, enter new markets, and strengthen the team. It marks a new phase for the company,” Edwin Rager, Strategy Director at Belo, concluded.
