- It’s a startup for offline BTC purchases
- It’s very popular in Latin America
- The company has raised $6 million in investment in a new round
A former Twitter director (and current Block head) Jack Dorsey has led a funding round for startup Azteco. This is a company that issues vouchers to buy BTC. The project raised $6 million in the round.
Azteco vouchers work similarly to phone top-ups. They can be purchased online or offline.
The project should simplify the purchase of cryptocurrencies among people who do not have bank accounts. This situation is common in Latin America and African regions.
Dorsey is known to be a devoted bitcoin fan. Here’s how he commented on his investment in the Azteco project:
“The unbanked population is huge.. We have the technology and resources to close this gap, but so far no one has made important steps in this direction.
Azteco provides much more than just access to a secure financial system. It creates an ecosystem of financial identity that is safe and supported by local communities.”
Besides Dorsey, Lightning Ventures, Hivemind Ventures, Ride Wave Ventures, Aleka Capital, Visary Capital, Gaingels and private entrepreneur Sunil Rajaraman participated in the round.
Last month, AI startup Pinecone raised $100 million in a Series B round.