Colombian Fintech Plenti Secures $3 Million in Funding Led by Tether

Colombian fintech company Plenti has successfully raised $3 million in seed funding, with Tether leading the investment round. The funding aims to accelerate Plenti's expansion across Latin America, particularly into Peru and Bolivia.

Founded in 2022, Plenti operates in the multicurrency and retail investment sector, competing with platforms like ARQ, Littio, and Bitso. Its application allows users to hold and transfer various currencies, including dollars, euros, and Colombian pesos, while also earning yield on their balances. Additionally, users can fund international brokerage accounts and invest fractionally in US stocks, ETFs, digital gold, and cryptocurrencies.

The capital raised will not only support Plenti's existing operations in Colombia but also facilitate its entry into new markets. Currently, the company serves over 150,000 active users and processes more than $3.1 billion in annual transaction volume across both B2B and B2C services.

This investment reflects a growing interest in digital dollar products as consumers and businesses in the region seek alternatives amid local currency volatility. As of June, Tether had approximately $184.6 billion of USDT outstanding, representing over 60% of the global stablecoin market.