Andreessen Horowitz and Polychain Capital invested $ 25 million in the project of mobile cryptocurrency payments Celo

Celo blockchain startup has completed a $ 30 million round of financing with the participation of large venture funds Andreessen Horowitz and Polychain Capital, according to The Wall Street Journal .

Investors purchased project tokens for $ 15 million and $ 10 million, respectively. Another $ 5 million startup received from "several leading structures", whose names did not disclose.

Celo has offices in San Francisco and Berlin and is developing a mobile application for non-bank cross-border transfers. The internal currency of the service will be the Celo Gold token and the Celo Dollar steablocoin.

Previously, the company has already attracted $ 6.4 million in investment and is currently testing an Android application in Kenya, Tanzania and Argentina.

Note that on the eve of the venture company Andreessen Horowitz (A16z) has made important changes in its structure. In particular, all 150 employees of the company were registered as financial advisers.

According to Forbes , this will allow it to increase investment in cryptocurrency startups to $ 1 billion, as well as “acquire an unlimited number of shares in listed companies and other investors” in accordance with the rules of the US Securities and Exchange Commission (SEC).

As BlockchainJournal wrote earlier, representatives of the American venture capital firm Digital Currency Group said that the fall in Bitcoin prices in 2018 did not affect the growth of venture capital investments. The company itself from 2016 to 2018 took part in financing 127 cryptocurrency startups, the average size of its investments in this period increased from $ 1.94 million to $ 3.24 million.

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