Plenti Raises $3 Million Seed Funding Led by Tether for Latin America Expansion

Colombian fintech Plenti raised $3 million in seed funding led by Tether, with participation from Verda Ventures, to accelerate its expansion across Latin America with Peru and Bolivia next on its roadmap. The capital will support existing Colombian operations while funding entry into the two new markets. The investment reflects growing interest in digital dollar products as consumers and businesses across the region seek alternatives amid local currency volatility.

Plenti Secures $3 Million Seed Funding for Regional Expansion

Plenti raised $3 million in seed funding led by Tether, with Verda Ventures joining the round. Founded in 2022, Plenti competes in the multicurrency and retail investment space with platforms including ARQ, Littio and Bitso. The company said the capital will support its existing Colombian operations while funding its entry into Peru and Bolivia.

Plenti Serves 150,000 Users with Multi-Currency Platform

Plenti now serves more than 150,000 active users and processes over $3.1 billion in annual transaction volume across B2B and B2C services. The 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.

Tether Holds $184.6 Billion USDT Outstanding

Tether had roughly $184.6 billion of USDT outstanding at the end of June, representing more than 60% of the worldwide stablecoin market. The investment in Plenti reflects Tether's participation in the growing digital dollar product sector across Latin America.

FAQ

What did Plenti raise in seed funding? Plenti raised $3 million in seed funding led by Tether, with participation from Verda Ventures.

How many users does Plenti serve? Plenti now serves more than 150,000 active users and processes over $3.1 billion in annual transaction volume across B2B and B2C services.

What markets is Plenti expanding into? Plenti plans to expand into Peru and Bolivia next, using the seed funding to support existing Colombian operations while funding entry into the two new markets.