Crypto’s Celo receives $25m funding boost
Mobile-focused crypto payments start-up Celo has received a funding boost, after Andreessen Horowitz’s cryptocurrency fund A16z Crypto and venture capital firm Polychain Capital invested $25 million in the start-up.
In an announcement on Tuesday (02/04/19), Celo revealed that A16z Crypto had purchased $15 million USD and Polychain Capital $10m USD in Celo’s Gold Tokens project.
The Celo Gold Token is described as “deflationary” cryptocurrency, which aims to reduce price volatility. Celo also offers the Celo Dollar – a stablecoin pegged to the US dollar.
“Tokens in circulation are backed by a diversified, over-collateralized, and publicly auditable crypto-asset reserve,” says the company on its website.
Celo “mobile-friendly” protocol
Celo says that its protocol is designed to be “mobile-friendly” and “ultralight” and enables funds to be sent to cellphone numbers.The company’s mission statement says that it aims “to remove the barriers for large-scale adoption of cryptocurrencies as means-of-payment”.
“The first application launching on our platform is a social payments and money transfer app, aimed at developing markets.”
The company say that its technology makes sending payments “as easy as sending a text to anyone anywhere”.
“Celo maps phone numbers to wallet addresses using a novel decentralized address-based encryption algorithm – mobile participants can earn rewards for securing and maintaining the system.”
A spokesperson for Celo said:
“We strongly believe that anyone, regardless of their location or socio-economic status, should have access to basic financial tools for storing and transmitting currency.”
The company added that initially it aims to help unbanked or under-banked individuals and enable easier remittances, cash-transfer programs and micropayments through an open-source platform.
Celo said that “several other leading institutions” worldwide has participated in its token-based funding initiative, but the sums involved remain undisclosed.
Celo has also recruited leading players in the industry to help establish itself in the crypto space, including the former head of financial institution partnerships at Circle, Chuck Kimble, who joined the company in February this year. Celo has also acquired as its general counsel Brynly Llyr, formerly of Ripple.
The company says that the technology its employs is based on “the same proven distributed ledger technology that powers Bitcoin and Ethereum and allows for the issuance of efficient digital currencies that are secure, immutable, non-counterfeitable and interoperable”.
Easy-to-use wallet app
In line with its mission to remove the barriers for large-scale adoption of cryptocurrencies as means-of-payment, Celo has recently piloted an “easy-to-use wallet app” in Argentina and Tanzania. The app would enable verified users and merchants to send and receive small payments.Celo said it would also be launching a public testnet of its platform in summer 2019.
The firm said in its investment statement on Tuesday that it now has more than 40 contributors to the project internationally – including the World Bank Group and the UN, as well as tech companies Google, Microsoft and Apple, and financial companies such as PayPal and Morgan Stanley.
Celo added that academics are also involved – including staff at MIT and the universities of Stanford, Harvard and Berkeley.
Mobile payments image licensed via Shutterstock.
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
