Adro, a New York-based technology company, has successfully secured an additional $500,000 in pre-seed funding, bringing its total pre-seed round to $2 million. This significant financial milestone underscores the company's dedication to facilitating access to financial services for international students and workers in the United States, a group often facing barriers in the banking sector.
The investment round saw contributions from notable entities including Empire State Development's NY Ventures and Jim Wiseman, President of Margaritaville Development, alongside Jasper Lau's Era. Amarildo Gjondrekaj, CEO and Co-founder of Adro, shared his personal motivation behind the company's mission, rooted in his family's immigrant experience from Albania to New York over twenty years ago.
Hope Knight, Empire State Development President, CEO, and Commissioner, praised Adro for its innovative approach to inclusive entrepreneurship, emphasizing its role in creating economic opportunities for underserved communities and enriching New York's entrepreneurial landscape.
Looking forward, Adro is set to introduce US dollar business accounts next month. These accounts, which are deposit-insured, aim to assist non-US companies in establishing a presence in the United States, obtaining an Employer Identification Number (EIN), and accepting US card payments. This initiative represents a critical step in Adro's mission to dismantle financial barriers for international entities.
Further highlighting the company's growth, Co-founder and COO Sara Schmitt's acceptance into the Nasdaq Entrepreneurial Center Milestone Makers program marks a significant individual achievement, showcasing Adro's commitment to achieving key business milestones.
Adro's recent funding and upcoming services reflect its unwavering commitment to providing essential financial services, including checking, savings, and credit, to international students and workers, thereby fostering greater financial inclusion and opportunity in the United States.
