Diem rival, Celo gets USD 20 mln amid launch of global payments app

To date, Celo has garnered more than USD 65 million from backers including Polychain Capital, Reid Hoffman, Jack Dorsey, Coinbase Ventures, Social Capital, Dragonfly Capital, Version One Ventures, SV Angel, and Valor Capital, among others.

Since the initial development of the Celo Platform in 2017, the Celo community has developed and launched a Mainnet, a native asset (CELO), a stablecoin (cUSD), a mobile payments app, and has been listed on Coinbase and Binance.

The announcement also marks the launch of Valora, a mobile remittance and peer-to-peer payments app built on the Celo platform. Following testing and a successful pilot program late in 2021, Valora is now globally available for download by virtually anyone with a smartphone.