Blumer raised $5 million in the starting round

The Blumer startup, considered to be Web 3.0’s first social network, raised $5 million in its first week of its launch round with a valuation of $150 million.

“We are very happy because this round allows us to open offices in Mexico, Argentina and Brazil and close 2023 with at least 5 million active users. In 2022, we will experience accelerated growth and have already reached more than 300,000 users across Latin America,” said Ernesto Ruiz, co-founder and CEO Blumer.

He explained that this time they presented the new version of the application.

“We have redesigned the entire product and added new features. Not only does the user experience improve, but the wallet now enables more financial institutions and other digital wallets to make daily payouts, breaking down barriers around the world. Added an NFT marketplace, private chat, vertical and horizontal navigation and many other improvements.”

He indicated that with this capital, they intend to execute an expansion plan that includes the development of Blumer Ads, a marketable platform integrated into the app that allows both advertisers and users to generate direct income for their wallets.

“We thought it was a proposal that would revolutionize the way advertising is done on social networks. The future is in sharing economies and respect for user information, Blumer understood this and that will lead them to become the next key players in the region,” said Carlos Chinchilla, CEO of INAS & TECH, an investment fund that will bet on this Latin American company.

Source: El heraldo