Neomoon digital bank raises $850k in first seed capital investment round

Neomoon digital bank raises $850k in first seed capital investment round

Published: 05-07-2022 14:39:00 | By: Pie Kamau | hits: 1877 | Tags:

Neomoon, the digital bank based on stablecoin which offers Latin Americans financial solutions to protect their money from devaluation and facilitate daily transactions, announced the closing of $850k first seed capital investment round led by Borderless Capital. 

Fedor Saldivia, CEO and Founder, Neomoon: "The latent economic recession has further served to highlight the need for Latin Americans to protect the value of their money, creating an ideal opportunity for the launch of Neomoon's offerings. The impressive organic growth of the platform serves to reinforce our mission to offer a bank that will teach our clients how to best use and protect their money in an unstable economy."

David Garcia, CEO and Managing Partner, Borderless Capital: "We are very excited to join Neomoon and back their vision of democratizing the adoption of banking and improving the financial services in Latin America and emerging markets. Using Algorand blockchain based stablecoins (USDT & USDC) will accelerate this process and reduce the friction Latin Americans face with the new digital economy."

Neomoon strategically entered the market in April of this year and has exceeded all expectations. Neomoon has attracted and kept an average of 570 new daily users and more than 50,000+ registered users to date, attributed to organic growth, word of mouth, and the community that has been built around Saldivia's IG following @elgordocircuito.

The funds raised in this first round were led by Borderless Capital and also made possible with the support and investment of Big Brain Holdings, Algorand INC, Algorand Foundation, Meld Venture, Optio Capital, and Algorand Miami Accelerator. This first seed capital will be invested towards new user acquisition costs and growth strategy which will allow Neomoon to scale its solutions in the coming months.