Plenti plans to use Tether’s funding to expand from Colombia into Peru and Bolivia.
Colombian fintech Plenti has raised $3 million in a seed funding round led by Tether, with the new capital set to support its expansion beyond Colombia into Peru and Bolivia.
The company will use the funding to consolidate its existing operations in Colombia and expand into the two new markets. Tether’s investment comes as digital dollar services expand across Latin America, where users continue to manage exposure to volatile local currencies.
“Having Tether come in now as an investor validates what we’ve built and lets us strengthen the platform’s liquidity and security to bring this model to more markets in Latin America,” said Martín Peláez, Co-founder and CTO of Plenti.
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