October 16, 2024
Mento Labs, the team behind the decentralized EVM-platform Mento on Celo, has raised $10 million amid significant growth and milestones. Their roadmap includes introducing new local currency stablecoins across Africa, Asia, and Latin America. Mento is one of the most widely used stablecoin platforms globally, with over 4 million users and more than 500,000 daily active users. Their mission is to advance the Web3 economy by promoting financial inclusion through real-world applications of local currency stablecoins.
Project | Latest Raise | Latest Raise Date | Category |
|---|---|---|---|
Mento Labs | $10M | October 16, 2024 | DeFi |
The $10 million funding round included investments from T-Capital, HashKey Capital, Richard Parsons, Flori Ventures, No Limit Holdings, Verda Ventures, w3.fund, and others.
About Mento Labs
Mento Labs is a digital asset innovation lab focused on creating stablecoins and other digital assets for real-world use. Founded in 2022 as a spin-off from cLabs (Celo), the team consists of economists, engineers, and web3 product experts. They aim to promote financial inclusion by developing transparent and reliable digital asset solutions. Mento Labs supports partners in launching and operating stable value assets, offering customized solutions and tools to ensure stability and sustainability in the digital economy.
Website: https://www.mentolabs.xyz/
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About Investor
T-Capital, HashKey Capital, Richard Parsons, Flori Ventures, No Limit Holdings, Verda Ventures, w3.fund, and others.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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