Eco raised $26 M in a new round of funding on 2021-03-05.

ECOx
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According to media reports, Eco raised $26 M in a new round of funding on 2021-03-05. the investors in this funding round include Andreessen Horowitz,Coinbase Ventures,Founders fund,Slow Ventures,Tribe Capital,Activant Capital,Valor Capital Group,Thirty Five Ventures (35V),Justin Blau,Melo7 and others. Following this round, Eco's total funding reached $86 M.
Eco is a wallet that lets users spend, send, save, and make money all at once. With Eco, users can earn up to 5% annual interest on deposits and get 5% cash back on spending at Amazon, Uber, and more. Eco partners with a regulated cryptocurrency custodian and prime lenders. Other large financial institutions often borrow USD-denominated cryptocurrencies on a short-term basis from these partners. These institutions pay interest to access Eco's idle, unused funds (which are kept as stable-value, USD-denominated cryptocurrency). A portion of the interest is then paid to users in the form of APY rewards on their deposits.

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ECOx Fundraising History
RoundAmountValuationTimeInvestor(s)
--$26 M--2021-03-05Andreessen Horowitz,Coinbase Ventures,Founders fund,Slow Ventures,Tribe Capital,Activant Capital,Valor Capital Group,Thirty Five Ventures (35V),Justin Blau,Melo7
Key Milestones
  • 2022-11
    $ECOx was live for trading
  • 2021-07-28
    Eco raised $ 60 M in funding round
  • 2021-03-06
    Eco raised $ 26 M in funding round
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