8 years ago

Colu Raises $14.5M for Digital, Localized Currencies

  • Colu, a blockchain technology company based in Tel Aviv, Israel and London, UK, has raised $14.5 million in funding

  • The funds were raised via IDB Development Corporation, which made an investment in the company, and its CLN (Colu Local Network) token presale, launched a month ago

  • Colu is focused on creating digital, localized currencies for communities through its mobile app-based digital wallet

  • The company is currently operating in 4 cities in the UK and Israel with 100K users and more than 85K monthly transactions.

    • ProblemTechnology

      "Local businesses struggle to attract and retain customers, leading to economic stagnation in communities."

      Solution

      "Colu provides a digital wallet and localized currency platform that enables peer-to-peer and customer-to-business transactions, encouraging local spending and fostering economic growth within communities."

      Covered on