Minteo closes $4.3 million round as it eyes Web3 growth for Latin America

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Minteo closes $4.3 million round as it eyes Web3 growth for Latin America

By Benson Toti - min read

Minteo’s $4.3 million seed round attracted the backing of Fabric Ventures, OpenSea Ventures, Dune Ventures, CMT Digital, among other investors across crypto and Web3.

Latin America-based NFT marketplace Minteo has closed a $4.3 million seed funding round contributed to by a wide range of investors across the ecosystem.

Minteo secured the funding from notable venture capital players and angel investors, including Fabric Ventures, CMT Digital, OpenSea Ventures, Impatient VC, Dune Ventures, and Susquehanna Private Equity Investments.

Others who participated were SevenX Ventures, FJ Labs, Big Brain Holdings, G20 Ventures, Zero Knowledge, Alliance DAO, and AngelDAO. A host of leading angel investors also participated, the startup noted in a press release.

Web3 for the Latin America region

Minteo, which is now backed by some of the marquee names in the Web3 investment space, plans to use the capital injection to boost its development and reach across the Latin America region.

The startup’s mission is to introduce the region to Web3 and help onboard millions of via NFTs.

Latin Americans love art, music, dancing, and socializing. This is engrained in the fabric of our community,” said Santiago Rodriguez, co-founder and Chief Executive Officer, Minteo.

Through Minteo’s NFT platform, Latin Americans will now be able to celebrate these incredible aspects of our culture. We truly believe that the region is ready for increased Web3 adoption, and the net effect it will have for many creators and communities will be life-changing,” he added in a statement.

Latin America is one of the regions with the fastest growing community of cryptocurrency and blockchain ecosystem users. Countries such as Brazil, Mexico, Argentina and Colombia are seeing massive numbers in terms of crypto adoption – and NFTs are the new frontier.

Minteo is thus looking to make inroads in the LATAM market through user-friendly mobile app, built-in self-custodied wallet, and support for local payment methods among other features.