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Startup named Eco raises USD 26 mln in funding

Monday 8 March 2021 09:45 CET | News

Eco, a cryptocurrency startup that claims it’s building a new type of finance platform, has opened to the public with an investment of USD 26 million under its belt.

Newly out of alpha mode, the platform offers up to 5% rewards on both crypto asset savings and spending. The firm’s second fundraise was led by a16z Crypto – the digital asset investment arm of Andreessen Horowitz – with Founders Fund, Activant Capital, Slow Ventures, Coinbase Ventures, Tribe Capital, Valor Capital Group, and more also participating.

Eco offers rewards on both crypto asset savings and spending at firms like Amazon and Uber. Users will earn 2.5% to 5% annually with assets just sitting in their accounts. The top rate for savings is dependent on referrals to friends.

The company previously raised USD 8.5 million in a round led by Expa (Camp’s startup studio) and crypto investment firm Pantera Capital.

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Keywords: crypto asset, funding, cryptocurrency, startup, fintech
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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