El Dorado Trade SAS

Based in Colombia, El Dorado Trade SAS operates a comprehensive financial ecosystem that empowers users in Latin America to effectively manage and grow their digital assets through innovative solutions. El Dorado Trade SAS is a financial technology company founded in 2019 and headquartered in Bogota, Colombia. The company specializes in providing a digital platform for managing digital currencies. The founding team includes Carlos Fontes, Dayanna Gonzalez, Eduardo Feo, and Guillermo Espiga, who serves as CEO.

In total, El Dorado has completed 2 deals, with its most recent funding round occurring in May 2024, where the company raised USD 3. 000 mn in a SEED round led by Multicoin Capital, alongside other investors including Coinbase Ventures and Awesome People Ventures. The total amount raised by the company stands at USD 3. 000 mn.

El Dorado operates as a comprehensive financial ecosystem focused on enabling users in Latin America to manage and grow their digital assets. Its primary product offerings include a digital wallet for managing stablecoins, particularly USDT, and a peer-to-peer (P2P) marketplace for facilitating currency exchanges and transactions. Key functionalities of the platform allow users to send and receive money instantly, convert local currencies into digital dollars, and utilize various payment methods to purchase cryptocurrencies. The SuperApp is designed for a diverse customer base across over 13 countries in the region, including Argentina, Brazil, Peru, and Colombia, allowing users to engage in financial activities seamlessly, whether for personal or business purposes.

El Dorado also plans to introduce additional features such as a crypto card for online and travel transactions, enhancing the overall user experience and accessibility of digital financial services. The revenue structure of El Dorado is primarily derived from transaction fees associated with its platform's services. Clients engage in transactions such as sending or receiving USDT through the P2P marketplace, where fees are applied based on the transaction amount. For instance, sending money via ACH transfer incurs a fee of 1.

49%, while P2P transactions have a tiered fee structure based on the volume of USDT traded. Additionally, El Dorado generates revenue through the creation of dollar accounts and various deposit methods, which also apply specific fees. This business model primarily targets both individual consumers and businesses looking for efficient ways to manage digital currencies, thus establishing a clear framework for revenue generation without relying on subscriptions or partnerships. In May 2024, El Dorado Trade SAS raised USD 3.

000 mn in seed funding led by new investor Multicoin Capital, with participation from other new investors Coinbase Ventures and Awesome People Ventures. The company intends to utilize this funding to enhance its security features. Additionally, El Dorado plans to expand its services in new markets across Latin America, aiming to reach more users by introducing new products such as a crypto card for online and travel transactions.