El Dorado raises US$9 million to boost cross-border payments in LATAM

El Dorado, the Latin American fintech focused on improving access to cross-border financial services, has secured a US$9 million Series A round led by Paradigm. The investment marks a new phase for the company as it continues to expand its financial infrastructure across the region and launches a new product for companies operating globally.

The round also included participation from Coinbase Ventures and Verda Ventures, bringing together investors with extensive experience in the fintech and crypto sectors.

A funding milestone backed by prominent industry investors

The new capital injection represents an important step for El Dorado, which over the past four years has developed solutions designed to address longstanding inefficiencies in Latin America's financial ecosystem. For its founder and CEO, Guillermo Goncalvez, this achievement has both personal and business significance.

“Building a company in Latin America is already difficult. Doing it as a Venezuelan founder while trying to solve some of the region's biggest financial challenges often feels like playing life on hard mode,” Goncalvez said.

Addressing longstanding financial challenges

Latin America represents a US$7 trillion economy that generates more than US$1 trillion in cross-border transactions each year. Despite this scale, many financial processes continue to rely on legacy infrastructure, often resulting in high fees, long settlement times, and limited access to banking services.

El Dorado was created to tackle these obstacles through a more efficient platform for moving money across borders.

Over the past four years, the company has expanded its presence to 12 countries, reaching more than 100 thousand active users and processing more than 5 million transactions. According to the company, approximately half of those transactions have involved cross-border activity.

El Dorado Business debuts alongside funding round

The Series A announcement also coincides with the launch of El Dorado Business, a new multi-signature account designed for digital companies managing funds internationally.

Built on Tempo's infrastructure, the product aims to help companies manage global transactions more efficiently by using stablecoins as a settlement layer.

The company's goal is to give Latin American businesses access to financial capabilities that were previously difficult to obtain because of the complexity and costs associated with traditional international banking systems.

By replacing processes that typically required multiple correspondent banks, long waiting periods, and significant transaction costs, El Dorado Business aims to enable real-time settlement through a multi-user account structure.

An expanding vision for Latin America

Goncalvez believes the region is entering what he describes as a “golden age,” driven by evolving economic conditions and a new generation of entrepreneurs focused on building companies in Latin America.

The CEO points to growing regional economic integration and an increasing number of founders choosing to scale their businesses locally rather than move to other markets.

As El Dorado expands its platform and introduces new financial products, the company aims to play an increasingly significant role in modernizing cross-border financial services throughout Latin America.

According to Goncalvez, a “golden era” for the region could be driven by technology, innovation, and greater access to financial infrastructure designed to meet the needs of today's global economy.