El Dorado announced that it closed a $9 million Series A round, with Paradigm leading the investment and participation from Coinbase Ventures and Verda Ventures.
Company Overview
Founded in 2022 in Colombia, El Dorado operates a cross‑border payments platform that serves both consumers and enterprises throughout Latin America. The service now supports more than 100 000 active users and has processed upwards of 5 million transactions across 12 countries.
Strategic Focus and Technology
El Dorado targets under‑served intra‑regional corridors, concentrating on payment routes between Bolivia, Paraguay, Ecuador and Peru—areas often overlooked by global fintech players. The platform runs on Tempo, a layer‑1 blockchain incubated by Paradigm and Stripe, which streamlines international business payments and expands crypto‑enabled financial access in the region.
Funding Utilization and Future Outlook
The fresh capital will accelerate product development, reinforce infrastructure, and broaden El Dorado’s footprint across additional Latin American markets. This injection follows a May 2024 seed round that raised $3 million from investors including Multicoin Capital and Coinbase Ventures, underscoring continued confidence from crypto‑focused investors.