Madrid, November 8, 2023.
Credit Collective's resources are allocated by its own community to promote impact projects in the blockchain, developed in the CELO ecosystem
EthicHub, the multi-award-winning and renowned Spanish startup, which finances small unbanked producers by offering much lower and more accessible interest rates than those they currently suffer, has been the project selected for a first investment from the recently created impact investment fund of CreditCollective. In this way, EthicHub will receive part of the initial resources from the fund to continue its expansion and expand the work it currently carries out with small producers in Mexico, Brazil, Colombia, Ecuador, Peru and Honduras. For Joan de Ramón, head of growth at EthicHub, this announcement "is great news because it implies greater coordination with the Celo ecosystem, a work that we have been doing for the last few months. At the same time we have the trust of a new investor institutional, key to the development of the project." In this sense, a few days ago, EthicHub also announced the incorporation of Heifer México into its ecosystem, a prestigious NGO founded in 1944, which over the years has channeled financing to millions of farmers around the world and who will act as a Hub Auditor for projects within the platform. Credit Collective is led by Tomer Bariach, co-founder of Flori Ventures, and Reuven Palatnik of Masaryk Ventures, two well-known figures in the web3 ecosystem who are firmly committed to building a new financial system and environmental solutions with the help of the CELO Foundation. For Reuven Palatnik, an "angel investor" with 15 years of experience in fintech companies, the investment in EthicHub "is more than a simple investment for us" because "their work in recent years represents the type of change driven by values that we aim to achieve." support and amplify through Credit Collective.” Tomer Bariach has expressed himself in a similar way but placing emphasis on collaboration with the CELO ecosystem. "Our collaboration with the Celo community is a testament to our mutual vision of creating transparent and community-driven financial structures that generate a direct impact on communities and their ecosystems." The third party involved and important in this announcement is the Foundation Celo, a non-profit organization responsible for the management and development of the CELO blockchain, where EthicHub provides its services. The open source CELO ecosystem aims to promote the development of decentralized financial systems and tools, to create the necessary conditions for "prosperity for all". CELO is also characterized by developing "mobile-first" services and, by its respect for the environment, with proposals for negative carbon emissions. In this sense, it is worth remembering that, in July of this same year, the CELO Foundation and the Spanish Telefónica announced an alliance to work together on financial inclusion, promoting use cases that promote greater adoption of technology. César Hernández, Web3 Portfolio Manager of Telefónica, then pointed out his "excitement" with the agreement reached with the CELO Foundation and the "great expectations" placed on this joint collaboration. "The Celo mobile first ecosystem is very aligned with Telefónica's mission. We share a joint vision of sustainability and positive climate responsibility. We firmly believe that Celo can be a great platform to launch decentralized and attractive joint initiatives."
Contact Contact name: Íñigo Molero Contact description: EthicHub / Communication Manager Contact telephone number: 34658809083
