Mobile blockchain payments startup Celo, which is built on Ethereum, raises $20M from a16z and others, bringing its total raised to $65M (Sebastian Sinclair/CoinDesk)

advertisement

Mobile-focused blockchain payments startup Celo has raised $20 million from the likes of Andreesen Horowitz (a16z), Greenfield One and Electric Capital.

According to a press release on Wednesday, the funding will go towards fleshing out its suite of offerings.

Celo is a proof-of-stake blockchain built on Ethereum, designed to support stablecoins and tokenized assets, while utilizing cellphone numbers to secure a user’s public keys.

To date, the startup says it has raised more than $65 million from high-profile industry backers including Polychain Capital, Reid Hoffman, Jack Dorsey, Coinbase Ventures, among others.

“We now have the technology to create a better financial system, a rich ecology of digital assets and products that allow individuals and organizations to … transact and manage risk,” said Celo co-founder Rene Reinsberg.

Since Celo’s initial development in 2017, the project has launched a mainnet, a native token (CELO), a stablecoin (cUSD), a mobile payments app and has been listed on major exchanges including Coinbase and Binance.

This content was originally published HERE

advertisement

Be the first to comment on "Mobile blockchain payments startup Celo, which is built on Ethereum, raises $20M from a16z and others, bringing its total raised to $65M (Sebastian Sinclair/CoinDesk)"

Leave a comment

Your email address will not be published.


*