El Dorado Closes $3 Million Seed Round

June 4, 2024

l Dorado, an innovative platform that facilitates international payments and transfers using digital assets, has closed a $3 million seed investment round. This capital injection was led by prominent firms such as Coinbase Ventures, the venture capital arm of Coinbase, and Multicoin Capital. El Dorado participated in the acceleration process of Skydeck’s batch 16, the prestigious accelerator at the University of Berkeley in the United States.

With the guidance of Torres Legal, El Dorado plans to expand its operations and broaden its service portfolio in El Salvador, as well as in other countries in Latin America. “El Dorado is more than a fintech; it innovatively offers market access to people who previously lacked this possibility. Its platform allows users to interact P2P (peer-to-peer), enhancing financial inclusion and facilitating transactions and access to international markets,” highlights Héctor Torres.

El Dorado’s application allows anyone to trade digital assets for fiat money or vice versa using the most popular payment methods in Latin America.

Ambitious Growth Plans for 2024

With the funds obtained, El Dorado aims to increase its revenue by more than 900% during 2024 compared to 2023 and reach 250,000 active users. Additionally, they plan to make significant investments in security to enter new markets.

“Our commitment goes beyond ensuring that El Dorado meets legal requirements. We are advisors on corporate, tax, and compliance issues. We are creating a roadmap for them to understand the benefits of investing in the country and the current state of the market,” added our partner, Annette Herrera.

From Torres Legal, we congratulate Guillermo Goncalvez and Juan Andreu, founders of El Dorado, and their entire team for this significant achievement. This milestone positions them as leaders in the digital financial transformation in Latin America, providing their users with a secure and accessible platform to manage cryptocurrencies.

Torres Legal – Media