Adro Secures $500,000 in Additional Pre-Seed Funding, Reaches $2 Million Total

Adro, a New York-based technology company focused on providing financial services to international students and workers, has successfully secured an additional $500,000 in pre-seed funding. The investment, which brings the company's total pre-seed round to $2 million, includes contributions from Empire State Development's NY Ventures and other notable investors.

The funding represents a significant milestone for Adro, which aims to address financial accessibility challenges for newcomers to the United States. With support from NY Ventures, the company is positioned to expand its innovative financial services platform, targeting an underserved market of international professionals and students.

Empire State Development President Hope Knight emphasized the importance of supporting inclusive entrepreneurship, noting that Adro's mission aligns with the state's commitment to creating economic opportunities for diverse communities. The investment signals a growing recognition of the unique financial challenges faced by international individuals establishing themselves in the United States.

As part of its expansion plans, Adro will launch US dollar business accounts next month, enabling international companies to establish a presence in the US market. This service will provide non-US companies with the ability to obtain an Employer Identification Number (EIN) and accept US card payments, further supporting global business integration.

The company's leadership, including CEO Amarildo Gjondrekaj, views this investment as a meaningful step toward making financial services more accessible to newcomers. Gjondrekaj's personal connection to immigration, having come from Albania, adds a personal dimension to the company's mission of supporting international professionals and students.

Adro's recent selection for the 2024 Hudson Valley Venture Hub Accelerator and its graduation from the Westchester County's Element 46 Tech Accelerator demonstrate the startup's potential and innovative approach to addressing financial inclusion.

The additional funding and strategic partnerships position Adro to make significant strides in providing comprehensive financial solutions for international individuals navigating the complex US financial landscape. By focusing on the unique needs of newcomers, Adro is addressing a critical gap in current financial service offerings.