This article is from cointelegraph.com.br and the original article can be read here in Portuguese
Brazilian startup Ribon announced that it received a contribution of R$ 20 million in post-seed investment led by Capital Group Value, followed by funds Venture Capital Bitkraft, kenetic, Flori Ventures and 2TM holding company that controls the Mercado Bitcoin in addition to angel investors like Gabby Dizon (CEO of YGG) and Fernando Martinelli (CEO of Balancer).
According to the company, the funds raised will be used to launch the Ribon protocol on blockchain which will enable the automated distribution of donations, in addition to the reward – via tokens – of donors and platforms that contribute to the functioning of the protocol.
Based in the Federal District, Ribon was founded in 2016 with the aim of stimulating the culture of donation in the digital environment, and with that, raising funds for projects that are working to solve social problems around the world.
When accessing the Ribon platform, it is not necessary to pay any amount to have the experience of donating to the available projects. The value of donations, however, is financed by Promoters: people and companies that put money into Ribon with the aim of encouraging more people to create the habit of donating to charity.
“Rather than asking or insisting that people donate to charity, Ribon shows that it is possible to do good, with a free giving experience, as well as ensuring that donated amounts reach their final destinations efficiently and safely. After having this experience, many people are interested in the movement and start donating from their own pocket”, says Rafael Rodeiro, CEO and founder of Ribon.
Giving money without putting your hand in your pocket
In 2021, Ribon’s unique business model won the Bill & Melinda Gates Foundation award as one of the 10 most innovative projects in the world in the field of philanthropy.
“Now it’s time to bring what we’ve created to the crypto world. This process will help us to grow quickly and allow Ribon to internationalize”, adds the executive
Later this year, the company also plans to launch its governance token, so that a Decentralized Autonomous Organization (DAO) can manage the protocol on blockchain.
With the new investment, Ribon aims to increase the number of recurring donors worldwide – today, there are more than 50,000 active donors on the platform.
This growth would have a major impact on the ecosystem, enabling the startup to achieve Sustainable Development Goal 1 of the UN – United Nations – in being a key agent in the eradication of extreme poverty by 2030.
“The investment that we are directing to Ribon, which makes it possible to donate to social causes in cryptocurrencies, is part of our strategy to implement the use of digital assets, increasingly, in people’s daily lives.”, says Roberto Dagnoni, CEO of 2TM.
The startup also has other angel investors, including Michiel Lescrauwaet (Tioga Capital), Yuan Han Li (Blockchain Capital), Ricardo Simon (Eclipseon), Lior Messika (Eden Block), Andrea Chang (NGC), Howard Peng, John Kwak (Elipti Ventures), Alex Buelau (Parfin), Guto Martino (Hathor).
“It is interesting to see how Ribon has used technology to connect donors with institutions and encourage a culture of giving around the world. We believe in the company’s business model and in its ability to transform the way people make donations these days”, declares Eduardo Vasconcellos, from Valor Capital Group.