Blockchain remittance platform Valiu raises $5.25 million in seed funding

Investments • February 11, 2021, 2:36PM EST
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Valiu, a blockchain-based international remittance firm located in Colombia, announced Thursday that it raised $5.25 million in seed funding.

Blockchange Ventures and Anthony Pompliano (via Pomp Investments) led the most recent round of funding. Blockchange Ventures is a blockchain-focused investment firm that has previously helped fund the crypto software company Zambo, the crypto freelancer support firm Braintrust, and numerous other crypto-adjacent companies. Valiu's round valued the startup at $20 million. 

The company, founded in 2018, raised the $5.25 million in seed funding over a period of about two years. Other investors include Castle Island Ventures, Messari CEO Ryan Selkis, Volt Capital, Nima Capital, and former GoDaddy CEO Blake Irving.

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Valiu plans to use the funds to expand its user base across Latin America and to improve its product offerings, such as cross-border peer-to-peer payment systems and crypto lending and investing tools. 

"Crypto is not only the next fintech wave, but it is also the most exciting innovation in capital markets," said Simon Chamorro, Valiu's co-founder and CEO. "This is only the beginning of a long journey towards changing how people interact with money across Latin America and we are thrilled to form part of this paradigm shift in a region that desperately needs it."

Valiu is the latest crypto firm in Latin America to raise funds with the goal of further expansion in the region. Bitso, a crypto exchange services firm, raised $62 million last year with an eye to expand in Brazil as well as continue its work in the Argentinian market. Bitso announced Thursday that it had acquired a European crypto derivatives platform. 

 

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.