Valora, an encrypted wallet powered by Celo, has completed a $20 million financing, and the company announced that it will become an independent entity.
In Tuesday’s announcement, Valola Say Andreessen Horowitz, Polychain Capital, SV Angel, Nima Capital, NFX, Valor Capital, and other companies invested $20 million in a Series A financing for the crypto application, which will now operate as an independent company. Jackie Bona, former head of consumer growth at Celo’s cLabs cLabs, will become Valora’s new CEO.
Bona said: “I am very pleased to be able to lead Valora at such a dynamic time in such an important development process, whether as an independent company or the entire cryptocurrency world.” “Consumers’ awareness of crypto has never been higher. But due to suspicion or inaccessibility, many people are still on the sidelines.”
Valora stated that it will use the funds for product development and creation of educational content, “to make more people accustomed to using cryptocurrencies.” The platform reports that it has more than 53,000 active users who are able to send funds around the world every month.
Valora was first launched in February, allowing users to use its Celo Dollar stablecoin (cUSD) to send payments, Supported by other cryptocurrencies In the Celo ecosystem.the price of CELO, the native token of the blockchain It was US$2.55 at the time of publication.