Early Riders Acts As Exclusive Investor in Aureo’s Pre-Seed Round to Build LatAm-Native Bitcoin Financial Services & Infrastructure
Austin, TX — October 20, 2025 — Early Riders, the venture firm pioneering bitcoin as the hurdle rate, today announced a 10 Bitcoin investment in Aureo, a Bitcoin financial services and infrastructure platform operating in El Salvador and Mexico. Aureo is building the dominant gateway for Bitcoin accumulation and conversion in Latin America, with a Bitcoin-only model designed for long-term savers, institutions, and enterprises.
Aureo has raised the capital to expand from serving its current customer set through bitcoin to pesos offramping to a complete suite of financial services and infrastructure focused on bitcoin. The company formerly known as Swpaido has now rebranded to Aureo to align its brand with its expansion to offer customers best-in-class offerings to acquire and save bitcoin.
The firm plans to offer both custodial and non-custodial bitcoin custody, and will roll out a web and mobile app supporting trading, automated DCA, and Multi-Institution Custody (MIC), an institutional-grade approach that distributes custody across multiple independent institutions for resilience and fault tolerance. Aureo is also developing APIs for wallet integration so third-party apps can plug into recurring savings and off-ramp functionality.
Aureo is led by a team of experienced Bitcoin builders who previously founded Veriphi, a Bitcoin-only exchange based in Canada that was announced for acquisition by Bull Bitcoin in 2021. The founders subsequently contributed to Lightning infrastructure and self-custody tooling at Bull Bitcoin before relocating to Mexico to build a Bitcoin-only financial platform tailored to local needs.
“Our mission is to make Bitcoin the default savings technology for Latin America,” said Gustavo Flores, CEO of Aureo. “By pairing MIC custody with clean Lightning and bank integrations we’re building a trustworthy foundation for individuals, families, and businesses to access best-in-class bitcoin financial services.”
“The Aureo team has the skill and experience to bring the best bitcoin financial services to Latin America, and be a leader in the industry,” added Liam Nelson, Partner at Early Riders.
About Aureo
Aureo is a Bitcoin-only savings and financial services platform for Latin America, operating today in El Salvador and Mexico. The company combines Lightning Network connectivity, local bank integrations, and Multi-Institution Custody (MIC) to deliver secure, long-term Bitcoin savings for individuals, institutions, and enterprises. Learn more at aureobitcoin.com/en.
About Early Riders
Early Riders is a bitcoin-denominated venture capital firm investing in the infrastructure that powers Bitcoin financial services. Learn more at earlyriders.com.
Read the Investment Memo
Aureo is building the Bitcoin-only savings and financial services stack for Latin America: combining Lightning rails, direct bank connectivity, and Multi-Institution Custody (MIC) to serve serious savers, HNWIs, and institutions in markets defined by currency debasement and weak property rights.
The founders have deep expertise in the bitcoin space, and the team previously built and exited Veriphi, a Canadian bitcoin exchange, and are executing locally in Mexico City.
Read the full investment memo here to learn more about the opportunity and why Early Riders backed Aureo.
