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."