August 31, 2015
Regalii, a platform that allows you to pay all of your family’s services or bills from anywhere in the world, has partnered with 15 of the leading financial institution the U.S.
These agencies serve 29 million customers across 50,000 locations and account for 70% of all remittance locations in the U.S. These partners include some of the most prominent remittance agencies, including: Ria Financial (NASDAQ:EEFT), IDT (NYSE:IDT), Black Wireless (SDI), Castle Checking (CFSC), La Nacional, Intercambio Express, Davidsfinancial.com, Dinex, and Sendcashglobal.com among others. Regalii expects to complete all integrations in 2016, which will provide these leading Financial institutions with access to pay bills anywhere in the world via Regalii’s API solution.
Every year, 232 Million migrant workers around the world use these financial institutions to do $622BN in mobile payments to family members aboard, of which 17% is spent on utility bills or services, and Regalii’s bold vision is to be the API that facilitates all of these payments.
Today, the company also announced it’s doing over $1 million in net revenues annually, with revenues up 800 percent compared to the previous year. The company is currently live in 1,000 locations, and projects to be in 50,000 locations in 2016.
Regalii provides a really innovative payment solution for all our consumers to manage their family’s finances remotely. I can pay my grandma’s electricity and water from 3000 miles away. That’s very powerful. Only because of Regalii can we do that - Daisy Paulino, agent partner
Regalii partners with the same Financial Institutions that remittance senders already know and trust. The Regalii platform tracks all the finances of a family member remotely and summarizes these financial matters into a SMS. Each week Regalii sender and recipient receive the SMS summarizing their family's financial situation, ie, which bills are due, how much, and when due. More importantly, they can elect to pay them with one simple click.
We’re building a next-generation payments platform. The internet has no borders, so paying for services shouldn’t either- Edrizio De La Cruz, Regalii CEO.
Regalii is a mobile and web platform that allows facilitates bill payment anywhere in the world. The API enables payments for utilities and services like electricity, water, gas, cell, tuition, health insurance in 10 different countries. Regalii is a graduate of Y-Combinator and been funded by Mitch Kapor, Winklevoss Capital, Alexis Ohanian, Maverick Capital and Brad Feld.