US-based Bitcoin vouching company Azteco announced on Thursday that it had raised $6 million in a seed funding round. In a post on its LinkedIn handle, the customer service firm stated that the funding round was led by Block’s founder and former Twitter CEO Jack Dorsey.
Along with Dorsey, Lighting Ventures, Hvemind Ventures, Ride Wave Ventures, Aleka Capital, Visary Capital Gaingels, David Van Der Weele, and Sunil Rajaraman also participated in the seed funding round.
Azteco, founded in 2019, is a Bitcoin voucher company headquartered in Santa Monica, California. The crypto start-up aims to provide bitcoin in a way that is easier to use for purchases, savings, and transfers. Azteco intends to unlock a new market sector known as the “Consumer Bitcoin” and make retail usage of Bitcoin more seamless.
Dorsey Impressed by Azteco’s Vision
In a statement to the press, Dorsey noted that he has “deep respect” for the vision Azteco is nurturing. He said that Azteco bridges the gap between the unbanked population and access to financial services. According to Dorsey, Azteco is building an ecosystem of financial self-determination and is something honoring to invest in.
Since its launch, Azteco said it has discovered that over 2 billion people own smartphones but have no access to traditional services. Hence, the company launched a system where unbanked smartphone users could access pocket-friendly and safe financial services without having a bank account.
Dorsey continued his Bitcoin development goal with the Azteco funding round. This comes just days after he donated $10 million to OpenSat, a non-profit organization that supports Bitcoin contributors.
Azteco Catalyst for Financial Freedom: Co-Founder
Paul Ferguson, the co-founder of Azteco, stated that the funding would help broaden its market reach and would also help in continuously refining the product.
“This investment is a catalyst to help us achieve our mission of bringing unconditional financial freedom and control to the next billion users. This funding will fuel our market activation and product refinement efforts, enabling us to reach consumers more efficiently,” Ferguson stated
