On June 4, 2024, El Dorado, the Latin American stablecoin-powered SuperApp, announced that it has successfully closed its seed round, raising $3 million. Multicoin Capital led the round, with participation from Coinbase Ventures, Berkeley Skydeck, and Awesome People Ventures. The funding will enable the company to drive growth and expand its services to more users in the region. Wilson Sonsini Goodrich & Rosati advised El Dorado on the transaction.

El Dorado’s platform boasts over 150,000 users and has processed one million transactions in its first 12 months of operation across Colombia, Venezuela, Argentina, Peru, Brazil, and Panama. With this new investment, El Dorado aims to reach 250,000 active users in 2024.

The Wilson Sonsini team that advised El Dorado on the transaction included Yokum Taku, Matt Squires, Jonathan Chan, Robert Terenzi, and Mara Alioto.

For more information, please see El Dorado’s blog announcement. Further coverage is available on CoinDesk.