Financial technology startup Adro has secured an additional $500,000 in pre-seed funding, expanding its total investment to $2 million, with key backing from Empire State Development's NY Ventures. The investment highlights growing support for innovative solutions targeting underserved financial markets.
The new funding includes contributions from NY Ventures and Jim Wiseman, President of Margaritaville Development, alongside additional investment from Era, founded by Jasper Lau. These investors are betting on Adro's mission to provide financial services to international students and workers in the United States.
Amarildo Gjondrekaj, CEO and Co-founder of Adro, emphasized the company's commitment to helping internationals establish financial footing in America. The company plans to launch US dollar business accounts next month, enabling non-US companies to set up operations, obtain an Employer Identification Number (EIN), and accept US card payments.
Empire State Development President Hope Knight noted the investment represents a commitment to fostering inclusive entrepreneurship. By supporting companies like Adro, New York State aims to create economic opportunities for underserved communities and contribute to the state's entrepreneurial ecosystem.
The investment arrives as Adro continues to expand its innovative financial services. Recently, the company's COO and Co-founder Sara Schmitt was accepted into the Nasdaq Entrepreneurial Center Milestone Makers program, further validating the startup's potential in addressing financial accessibility challenges for international populations.
