We are very pleased to announce the closing of the seed round after many months of work and the pivoting on the financing strategy.
EthicHub was born in 2017, year in which we selected and planted its seed; In 2018 a sprout of hope germinated to a world of new possibilities; 2019 began with a final attempt to become a foundation, but the market reality and the wise advice of Alfredo Montoya, CEO of Collaborative, our accelerator and main investor in the seed round, led us to become a Social Company, with shareholders, but with an impact mission and multistakeholder governance; this way we are able to attract more financing and therefore a much greater impact.
As a result we gathered over 1 Million dollars between investors in equity and mezzanine debt granted by the IDBLab, the innovation branch of the Inter-American Development Bank. This success provides us with financial peace of mind to be able to focus on operations but it also provides excellent foundations for the next financing round.
It has not been an easy road, nor overnight. Proof of it is this picture with the many badges from the events we attended over these years to spread the word about EthicHub around the world, person by person, city by city, country by country.
Most important is the incredible amount of supporters and users we met at this events.