And there we are, ethichubbers! Great news that we are proud to share with all of you. Because we are the project chosen to receive a first investment from this recently created impact investment fund. In this way the resources received will serve to expand the work we are currently developing in Mexico, Brazil, Colombia, Ecuador, Peru and Honduras and prepare to scale our solution globally. As Joan de Ramón, our growth manager, points out, this announcement "is great news because it implies greater coordination with the Celo ecosystem, a work we have been doing for the last few months. At the same time we have the confidence of a new institutional investor, key to the development of the project". And remember that this is not the first institutional investor we have had. We will never tire of telling you how important it is for us and how excited we are about the incorporation of Heifer Mexico into our ecosystem, a prestigious NGO, founded in 1944, which over the years has channeled financing to millions of farmers around the world and is already a Hub Auditor of our platform's projects.
And now, a brief presentation of Credit Collective. It is led by Tomer Bariach, co-founder of Flori Ventures and Reuven Palatnik of Masaryk Ventures, two well-known figures in the web 3 ecosystem who are firmly committed to building a new financial system and environmental solutions hand in hand with the CELO Foundation. Reuven Palatnik, an "angel investor" with 15 years of experience in fintech companies, notes of this investment in EthicHub that "it is more than just an investment for us" because "their work over the past few years, represents the kind of values-driven change that we intend to support and amplify through Credit Collective." And similarly stated Tomer Bariach but with an emphasis on collaboration with the CELO ecosystem, where you know we are delighted to be a part of. "Our collaboration with the CELO community is a testament to our mutual vision of creating transparent, community-driven financial structures that create direct impact in communities and their ecosystems."
And what to tell you about the Celo Foundation, a non-profit organization, responsible for the management and development of the CELO blockchain, where we feel at home and are very comfortable developing our products. CELO's open source ecosystem aims to foster the development of decentralized financial systems and tools, to create the necessary conditions for "prosperity for all". For those of you who have already interacted with CELO, you will know that it is characterized by the development of "mobile-first" services and by its respect for the environment, with negative carbon emission proposals.
And at this point, a reminder that is worth mentioning. In July of this year, the CELO Foundation and Spain's Telefónica announced a partnership to work together on financial inclusion, promoting use cases that encourage greater adoption of the technology. César Hernández, Web3 Portfolio Manager at Telefónica, noted at the time his "excitement" with the agreement reached with the CELO Foundation and the "great expectations" placed on this joint collaboration. "The Celo mobile first ecosystem is very much aligned with Telefónica's mission. We share a joint vision of sustainability and positive climate responsibility. We strongly believe that Celo can be a great platform to launch decentralized and attractive joint initiatives."
