Backed by Andreessen, Eco shows Diddy, Kevin Durant and Carmelo Anthony as investors

Eco, a fintech wallet app that uses crypto behind it, announced in March with a $ 26 million fund led by Andreessen Horowitz. Other investors include Coinbase, Pantera, Founders Fund, Slow Ventures and much more. Now Eco has announced a number of celebrities and sports investors who joined the March tour (but were not named at the time), including Sean "Diddy" Combs, Tiffany Haddish, Kevin Durant. (Via Thirty Five Ventures company), Carmelo Anthony (via firm Melo7), NFL star Larry Fitzgerald and DJ 3LAU, among others. The company has raised $ 34.5 million in total funding, and the app is still in closed beta. While Eco will not share user numbers so far, it says there are 170,000 people on the waiting list. What is Eco? Eco tells himself "no bank, no checking account, no credit card" on his website, but he says it "replaces" all of this. The app promises 2.5% interest on your balance (and higher interest if you refer friends) and cash back rewards from various vendors. "We say Eco is the one-stop shop for spending, sending, saving and earning money in one place, and that's the best we can do to explain it," said Andy Bromberg, former CEO of Eco. During the 2017 and 2018 ICO boom, CoinList, which made possible the sale of selected tokens (which it just called "verified"), said, "We found that counter-positioning is the easiest way to explain what it actually is. It clearly shows that there is a function we work with, checking account, whatever, ”says Bromberg Decrypt. Even though Eco is rooted in crypto in the backend, he also avoids branding itself as a" crypto "app. When users deposit dollars, Eco converts them into USDC money.

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