The Celo foundation distributes $ 700,000 to 13 startups

The Celo foundation distributed $ 700,000 through his subsidy program in order to strengthen its ecosystem and improve financial inclusion.

The Celo Foundation, the foundation in charge of network development Celo, announced that it had received more than 50 applications and then selected the 13 startups that focus most on the growth of its ecosystem.

Among them, 5 young shoots who offer financial services based on the Celo protocol, namely Beam & go, eSolidar, LoveCrypto, Pay with Moon and SaldoMX.

There are also 7 other companies that contribute to the development of the Celo network: Chorus One, Forbole, Gitcoin, Stake.fish, Figment, Gauntlet and Chainsafe, as well as the New York incubator Blockchain for Social Impact.

Selected entities provide the building blocks to help strengthen the protocol Celo, provide better access to financial services or develop programs to educate the Celo community, ”wrote the foundation.

Last month, the foundation announced the creation of the Celo Alliance for Prosperity. About fifty firms, including several members of the Libra association, have joined the initiative.

In 2019, Celo raised $ 30 million during a round of financing completed by a16z Crypto and Polychain Capital.