Modern Tech David & Goliath: Disrupting Industry Big Boys and Disrupting A Half-Trillion Dollar Economy
Regalii, a global digital company built by immigrants for immigrants, makes sending money home more efficient, easier-safer-faster-cheaper, for 26 million immigrant families in the US and placing focus on helping others.
Why should you have to cash a check, wait in line, use a calling card, and pay high fees just to send money to your family abroad; so they can turn around and visit service provider after service provider to when it can be accomplished all at once more efficiently? The three Latino millennial founders was sick of it, and hatched a much easier way to disrupt the industry.
“Every hard working family, no matter where they live, deserves financial breaks”, says Edrizio De La Cruz, Co-Founder-Regalii. “We want to educate the millions of Latino consumers in the US that there is an easier and less costly alternative to supporting their families in Latin America.”
Regalii, launched in 2011 by millennial immigrants frustrated with paying the high costs of sending money to their families in Latina America recognized a way to solve a common problem and give back to their community. Regalii is a mobile money transfer solution that makes paying bills simple, with a mere $3 per transaction fee, compared to the average 9% from their 800lb. gorilla competitors.
Since its launch, Regalii has gone from 0 to 60,000 plus customers, alone in Dominican Republic. The company has now expanded services Mexico, Honduras, Guatemala and El Salvador as is positioning its services as a leading trusted alternative.
“The traditional money transfer process is complicated, expensive, and does not offer a sense of control for the sender,” says De La Cruz. “I am proud Regalii is the ideal solution and puts money back in the sender’s pocket putting the traditional methods of money wiring on notice.” Regalii makes the process more efficient for both the sender and recipient; making the entire process easier, safer, faster, and cheaper.
In January, Regalii signed exclusive agreement with SKY, largest cable provider in Latin America, for U.S./ Latin America cross border mobile payments)
“Latino millennials lead in social media usage and the data shows they make up nearly 20% of U.S. millennial population, a market worth capturing”, say De La Cruz. “As a young immigrant myself, I know Latinos are a big influence on family purchasing decisions, with 22% helping with family finances”.
Regalii is a mobile money transfer solution that makes paying bills simple, with a mere $3 per transaction fee, compared to the average 9% from companies like Western Union and others. “The traditional money transfer process is complicated, expensive, and does not offer a sense of control for the sender,” says De La Cruz.