Adro, a New York-based technology company focused on providing financial services to international students and workers in the United States, has secured an additional $500,000 in pre-seed funding. This investment increases the company's total pre-seed round to $2 million, representing a significant development milestone for the organization. The funding round includes contributions from Empire State Development's NY Ventures, the state's venture capital arm, along with investments from Jim Wiseman, President of Margaritaville Development, and Era, founded by Jasper Lau.
Amarildo Gjondrekaj, CEO and Co-founder of Adro, emphasized the company's dedication to serving traditionally underserved and underbanked international populations. His personal connection to this mission stems from his family's immigrant experience, having moved to New York from Albania more than twenty years ago. Hope Knight, Empire State Development President, CEO, and Commissioner, highlighted the importance of supporting inclusive entrepreneurship, noting that Adro represents the type of innovative company that creates economic opportunities for underserved communities while contributing to New York's vibrant entrepreneurial ecosystem.
The company plans to launch US dollar business accounts next month, enabling international companies to expand their US presence. These deposit-insured accounts will help non-US companies establish themselves in the United States, obtain an Employer Identification Number (EIN), and accept US card payments. This development addresses a critical need for international businesses seeking to operate in the American market without facing traditional banking barriers.
Adro has also seen notable individual achievements within its leadership team. Co-founder and COO Sara Schmitt was recently accepted into the Nasdaq Entrepreneurial Center Milestone Makers program, a prestigious initiative supporting entrepreneurs in achieving key business milestones. This recognition further validates the company's approach and potential impact in the financial technology sector.
The company's recent funding and strategic initiatives demonstrate its commitment to breaking down financial barriers for international students and workers, providing critical access to checking, savings, and credit services in the United States. By addressing the specific needs of international populations who often face challenges accessing traditional banking services, Adro aims to create more inclusive financial systems that support economic mobility and business growth for diverse communities in New York and beyond.
