Media: Blockchain Capital backs crypto-influencer Irene Zhao’s startup

The startup SO-COL, co-founded by crypto influencer Irene Zhao, attracted investment in a private funding round. It was led by the investment firm Blockchain Capital, The Block reports citing sources.

The deal amount was not disclosed. According to sources, the startup’s valuation reached $100 million.

The funds will be directed toward app development, marketing, and hiring developers.

Zhao confirmed the funding in an interview with the publication. She said the startup ‘helps content creators and influencers working in Web 2 to transition to Web 3.0 with a simple user interface’.

“They can use their Apple Wallet, any wallet they have, to buy anything on our platform,” Zhao said.

She said an official release of the platform would come soon.

In February, SO-COL closed a seed round of $1.75 million. Participants included Animoca Brands, DeFiance Capital, Three Arrows Capital, Mechanism Capital, Global Founders Capital, Double Peak Group, Antifund, Genblock Capital and Kronos Research.

We’re thrilled to announce that we’ve recently raised $1.75 million in seed funding led by @AnimocaBrands and @DeFianceCapital to empower creators and their communities. https://t.co/FhwyU5QoXu

— SO-COL ? (We’re hiring) (@socol_io) February 8, 2022

Earlier Zhao released an NFT collection titled IreneDAO. She described the project as a proof of concept for SO-COL.

As reported in June 2021, Blockchain Capital raised $300 million for its fifth fund. Visa and PayPal were among its partners.

Update (29.03.2023, 13:15): Information about the amount raised has been removed from the headline. Added to the text: ‘The deal amount is not disclosed. According to media, the startup’s valuation reached $100 million’.