NY Ventures Backs Adro with Additional $500,000 Investment to Support International Financial Services

Adro, a technology company focused on providing financial services for international students and workers, has secured an additional $500,000 in pre-seed funding, expanding its total investment to $2 million. The new investment includes significant backing from Empire State Development's NY Ventures, marking a strategic expansion of support for innovative financial technology solutions.

The investment signals a growing recognition of the challenges faced by international professionals and students in establishing financial foundations in the United States. By targeting an underserved market, Adro aims to address critical gaps in banking and financial access for newcomers to the country.

NY Ventures' investment demonstrates a commitment to supporting inclusive entrepreneurship and innovative solutions that can benefit immigrant communities. Hope Knight, Empire State Development's President and CEO, emphasized the importance of supporting companies that create economic opportunities for underserved populations.

According to Amarildo Gjondrekaj, Adro's CEO and Co-founder, the funding will accelerate the company's mission to make financial services more accessible to international students and workers. The personal connection is significant, as Gjondrekaj's own family immigrated to New York from Albania over two decades ago.

The company plans to launch US dollar business accounts next month, enabling international companies to expand their reach in the United States. These deposit-insured accounts will allow non-US companies to establish an Entity Identification Number (EIN) and accept US card payments, further supporting global business integration.

In addition to the financial milestone, Adro's Chief Operating Officer Sara Schmitt was recently accepted into the Nasdaq Entrepreneurial Center Milestone Makers program, underscoring the company's potential for growth and innovation in the fintech sector.

The investment from NY Ventures represents more than just financial support; it reflects a broader commitment to fostering innovative solutions that address real-world challenges faced by international professionals and students. By providing accessible financial services, Adro is positioning itself as a critical bridge for newcomers navigating the complex US financial landscape.