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Inclusive Fintech 50 launches 2021 competition to recognize early-stage fintechs driving innovation in an era of uncertainty
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Stellar Development Foundation Invests $3 Million in Tribal Credit
Investment supports Tribal s development of blockchain products and services with a focus on increasing access to financial services in emerging markets like Latin America
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Stellar Development Foundation (SDF) announced a $3 million USD Enterprise Fund investment in
Tribal Credit, a US-based fintech platform providing financial services for digital-first SMEs in emerging markets.
Tribal Credit & the Stellar Development Foundation
SDF announced a $3 million investment in Tribal Credit.
The investment will allow Tribal Credit to advance development of its blockchain products built on Stellar, bringing banking solutions and cross-border payments to businesses in Latin America and other emerging markets, as well as leverage the most powerful features of the Stellar network to make payments even faster and more cost-effective.
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SAN FRANCISCO, April 21, 2021 /PRNewswire/ Tribal Credit, a payment fintech specially designed for small and medium-sized businesses in emerging markets, announced today closing a combined Series A and debt round of $34.3 million.
The investment was led by QED Investors and Partners for Growth (PFG). Existing investors BECO Capital, Global Ventures, OTG Ventures and Endure Capital also took part in the round, joined by new investors Endeavor Catalyst.
As part of the investment, Tribal received $3 million from the Stellar Development Foundation, a nonprofit organization that supports the development and growth of the open-source Stellar blockchain network. Their investment will facilitate the development of Tribal s blockchain products and integration onto the Stellar network.
Stellar Development Foundation Invests $3 Million in Tribal Credit
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