Latin American digital wallet provider Belo has successfully raised $14 million in a Series A funding round, led by stablecoin giant Tether. Other notable investors include Titan Fund, The Venture City, Mindset Ventures, and G2. The funds will be utilized to drive expansion into key markets such as Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while bolstering its infrastructure and deepening its presence in Brazil, with a focus on freelancers and remote workers. Founded in 2021 in Buenos Aires, Belo has experienced significant growth, reaching over 3 million users.
According to CEO Manuel Beaudroit, this funding round marks a pivotal moment for the company, building upon three years of profitable operations and a product integral to users' daily lives. Stablecoins have gained popularity in emerging markets as a viable alternative to traditional banking systems, particularly in regions plagued by high inflation, currency volatility, or limited access to dollar-denominated accounts.
Belo's innovative approach combines payments, foreign exchange, and cross-border transfers into a seamless flow, leveraging crypto infrastructure to reduce friction and costs associated with moving money between countries. The partnership with Tether underscores the growing demand for stablecoin-based payment systems.
In an interview, Beaudroit emphasized that crypto tools are increasingly filling the gaps left by traditional finance, with Belo at the forefront of this shift. As the company expands, it is also recruiting talent across product, engineering, and operations to support its growing regional presence.