LatamList – Valiu, a Colombian fintech raises a $5.25M seed round led by Blockchange Ventures and Pomp. Additional investors included Castle Island, YCombinator, Ideo Colab, Mercy Corps, and others.
Valiu is a digital remittance platform that uses cryptocurrency to allow migrants to send money across borders at a protected rate. The startup was founded by Simon Chamorro to aid the more than 80% of Venezuelans that depend on remittance to survive in the current crisis.
“The fintech started with the offer of secure, affordable, and quick remittance transactions between Colombia and Venezuela. We have now increased our services to offer US dollar accounts and free and immediate cross-border transactions ,” said the company.
The seed funding will be used to continue growing and developing the Valiu platform for use in countries where there are fintech regulations.
“Cryptocurrency is not just the next fintech wave, but it is also the most exciting in the capital market. This is only the start of the journey to change how people interact with their money in Latin America, and we are excited to be part of this change,” said Chamorro.
Read more on La Republica.
