Colombian fintech Plenti raises $3 million led by Tether

Colombian fintech Plenti raised $3 million in seed funding led by Tether to accelerate its expansion across Latin America, with Peru and Bolivia next on its roadmap. Verda Ventures joined the round. Founded in 2022, Plenti competes in the multicurrency and retail investment space with platforms including ARQ, Littio and Bitso. Its app lets users hold and move dollars, euros and Colombian pesos, earn yield on balances, fund international brokerage accounts and invest fractionally in US stocks, ETFs, digital gold and crypto. Plenti said the capital will support its existing Colombian operations while funding its entry into the two new markets. The company now serves more than 150,000 active users and processes over $3.1 billion in annual transaction volume across B2B and B2C services. The investment reflects growing interest in digital dollar products as consumers and businesses across the region seek alternatives amid local currency volatility. Tether had roughly $184.6 billion of USDT outstanding at the end of June, representing more than 60% of the worldwide stablecoin market. Disclosure: This article was edited by Editorial Team. For more information on how we create and review c...