Eco Raises Capital from Sean "Diddy" Combs, Kevin Durant and Rich Kleiman's Thirty Five Ventures, Tiffany Haddish, Carmelo Anthony and Stuart Goldfarb's Melo7 Tech Partners, and other cultural icons
SAN FRANCISCO, May 20, 2021 /PRNewswire/ -- Eco, a digital wallet for saving and spending, today announced that some of the world's most prominent cultural icons participated in its recent fundraise of more than $26 million — alongside a16z Crypto, Founders Fund, and more than one hundred others.
These investors included Sean "Diddy" Combs, Kevin Durant and Rich Kleiman's Thirty Five Ventures, Carmelo Anthony and Stuart Goldfarb's Melo7 Tech Partners, Tiffany Haddish, Justin Blau, Larry Fitzgerald, Keisuke Honda, Kelvin Beachum Jr., and the a16z Cultural Leadership Fund.
"These investors are role models to so many people around the world," said Andy Bromberg, CEO at Eco. "They've already won within the existing system. But by backing Eco, they are voting with their dollars for a better future — one where everyone is in control of their own money."
With Eco, users earn up to 5% annually on their deposits and get 5% cashback on spending at major merchants. Eco is developing features to help users pay bills, send money to friends, and more.
"I'm excited to be involved in Eco's mission to transform how people save, earn, spend and send their money," said Tiffany Haddish. "Eco is providing much-needed transparency and control to users, and I think they have a real opportunity to reimagine how peope think about money."
By bringing cultural leaders and tastemakers on as investors, Eco continues to broaden its user base. Eco will leverage the expertise of these investors to bring hard-to-access — and hard-to-understand — financial products to the mass market.
"Melo7 Tech Partners is thrilled to partner with Eco in their mission to empower people to take control of their finances," said Carmelo Anthony, NBA All-Star and co-founder of Melo7 Tech Partners. "Regardless of gender, race or income level, financial freedom is a right that everyone deserves, and that starts with financial literacy. We are excited to help transform banking to make it more accessible for all."
With more than 170,000 people on Eco's waitlist, the company remains focused on meeting this demand, expanding the product's benefits, and building towards the future of aligned financial services business models.
"Eco's model is simple and provides real, tangible value to its users, who have outgrown the confusing terms of traditional banking. As investors, we're excited to help them grow in the journey to provide more people with financial freedom."
To learn more about Eco, visit https://www.eco.com
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