Edrizio de la Cruz
Horacio Alberto Melo Torres
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Problem: Remittances are the main source of income for most families in Latin America ( LAC ) with relatives abroad. However remittances are largely an offline activity which is expensive and burdensome. There is no centralized Internet portal for Hispanics to 1) send remittances and 2) connect (email call) to families in LAC. Solution: Regalii is a revolutionary web-to-SMS group gift card platform between Hispanics in the U.S. and family in LAC. The user 1) selects recipients (family in LAC) 2) invites other family members (in U.S.) to split the gift cost 3) Finally the Recipients receive a text message with the e-code which is redeemable at supermarketsstores (in LAC) where it can be used the same way as a coupon. For users and recipients its the only form of remittance that is free instant and social. Market: Remittances to LAC is a $69BN market growing at 9%. The initial target market is Hispanics in the U.S. and Spain.Competitive advantage: Regalii adds value to each party in the remittance value chain: U.S. Consumers transfer funds free and instantly, Recipients in LAC receive funds instantly and hassle-free, Retailers in LAC have access to an otherwise inaccessible consumer U.S. Hispanics.Go-to-Market Strategy: Regalii will do a country-by-country roll out starting with the Dominican Republic shortly followed by Mexico. This enables us to concentrate our resources and execute a build-test-learn feedback loop that will allow us to scale quickly.