Latin American digital wallet platform Belo has secured $14 million in funding, led by Tether, a prominent stablecoin issuer. The Series A round also saw participation from investors such as Titan Fund, The Venture City, Mindset Ventures, and G2.
The funds raised will be utilized to expand Belo's services into countries including Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while enhancing its infrastructure and deepening its presence in Brazil, particularly among freelancers and remote workers. Founded in Buenos Aires in 2021, Belo has experienced significant growth, now boasting over 3 million users across Latin America.
According to CEO Manuel Beaudroit, the company has achieved three years of profitable operations, with this funding round focused on scaling. Stablecoins have gained popularity in emerging markets as an alternative to traditional banking, especially in regions with high inflation or limited access to dollar-denominated accounts.
Belo's platform combines payments, foreign exchange, and cross-border transfers, leveraging crypto infrastructure to reduce friction and costs associated with moving money between countries. The investment from Tether highlights the growing demand for stablecoin-based payment systems in regions where dollar-linked assets are in high demand. Beaudroit views Belo's approach as part of a broader shift, where crypto tools are filling gaps left by traditional finance. The company is also expanding its team across product, engineering, and operations as it broadens its regional presence.