Coco Pago

Coco Pago

Growth Stage

Revolut for Latin America

Revolut for Latin America


Raised to Date: Raised: $199,495

Total Commitments ($USD)



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RegCF    Open SEC Filing

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Year Founded



Financial & Insurance Products & Services

Tech Sector


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Capital Intensity



Brooklyn, New York

Business Type

High Growth

Coco Pago, with a valuation of $10 million, is raising funds on Wefunder. The company has developed a platform that makes remittances and sending money convenient and fast. Coco Pago's platform, PagO, allows migrants to send money back home in seconds via stablecoin. Families in Latin America can download the app, send and receive money in seconds with phone numbers, and pay for goods and services. Coco Pago is making $90,000 in monthly revenue and is already profitable. Kevin Charles, Victor Charles, and Francisco Martin founded Coco Pago in January 2019. The current crowdfunding campaign has a minimum target of $125,000 and a maximum target of $384,720. The campaign proceeds will be used for runway, paying salaries, and marketing.

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Financials as of: 09/25/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Coco Pago 04/29/2024 Wefunder $10,000,000 $199,495 SAFE Active RegCF
Coco Pago 04/30/2022 Wefunder $12,000,000 $218,002 SAFE Funded RegCF
Coco Pago 10/27/2021 Wefunder $8,000,000 $157,582 SAFE Funded RegCF
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Analyst Report


Remittances, the practice of individuals sending money across borders to their home countries, play a significant role in the global economy. According to the World Bank, remittances to low- and middle-income countries reached $540 billion in 2020, surpassing foreign direct investment flows to these countries. Despite the global economic downturn caused by the COVID-19 pandemic, remittance flows remained resilient, driven by digitization, which allowed migrants to send money home despite lockdowns and travel bans.

However, sending remittances is not always straightforward. Transaction fees can be high, and money transfer services may not be available in remote areas. This is where Coco Pago comes in. The company has developed a platform, PagO, that allows migrants to send money to their home countries via stablecoin. This cryptocurrency maintains a stable value relative to a specific asset or a pool of assets. With PagO, families in Latin America can send and receive money in seconds using phone numbers and pay for goods and services.

Coco Pago addresses a significant need in the remittance market, particularly in Latin America. The company is already generating profitable revenue, demonstrating the demand for its services. Its current crowdfunding campaign on Wefunder will provide the funds needed for further growth and development.

Next Section: Price


Coco Pago is raising funds on Wefunder via SAFE at a $10 million valuation cap. This valuation is reasonable, given the company's traction and financial performance. Coco Pago has achieved significant milestones since its launch in early 2022, generating $90,000 in monthly revenue recently and achieving profitability (investors must differentiate Coco Pago's actual revenue from its SEC form revenue, which is its sales). The company has also raised $1.5 million from reputable investors such as YCombinator and other top investors.

Next Section: Market


Coco Pago operates in the digital cross-border remittances market, targeting South America. This market is valued at $1.79 billion, with a growth rate of 8.16% year-over-year. This market is driven by the substantial number of migrants who send money back to their home countries, a particularly notable trend in Latin America. Remittance services are a critical financial lifeline for many families in these regions.

Another trend that could benefit Coco Pago is the increasing adoption of digital payment methods in Latin America. The COVID-19 pandemic has accelerated this trend as more consumers turn to digital solutions for their financial needs. This growing familiarity with and acceptance of digital transactions could potentially boost the adoption of Coco Pago's services.

It's worth noting that Coco Pago's operations are subject to high regulatory oversight due to the nature of its business. This could present both challenges and opportunities. On one hand, compliance with regulations can impose significant costs and complexities. On the other hand, it provides a barrier to entry for potential competitors and could help build user trust.

Overall, Coco Pago operates in a sizable and growing market. Its use of modern technology to address the pain points of traditional remittance services could position it well to capture a significant share of this market.

Next Section: Team


CEO Kevin Charles, CFO Victor A. Charles, and CMO Francisco Martin Toro founded Coco Pago. The founders have a strong understanding of the challenges faced by migrants and the impact of remittances on both the individuals and the recipient countries. They have developed Coco Pago's platform, PagO, which enables migrants to send money back home quickly and conveniently using stablecoin technology.

With nine years of relevant industry experience, Kevin Charles leads the team as CEO. He profoundly understands the financial and insurance products and services industry. Victor A. Charles, also with nine years of relevant industry experience, serves as the CFO and brings solid managerial skills to the team. With seven years of relevant industry experience, Francisco Martin Toro is the CMO and has valuable marketing and customer acquisition expertise.

The Coco Pago team comprises 70 members, indicating a significant growth and scale, explained by the other side of the company's business: Coco Mercado.

Next Section: Differentiation


Coco Pago differentiates itself in the highly competitive market of digital cross-border remittances, explicitly targeting the South American market. While established competitors such as Revolut, Wise, and Remitly exist, Coco Pago aims to stand out by offering a convenient and fast platform for sending money back home. The platform, PagO, allows migrants to send money in seconds using stablecoin, providing a seamless experience for families in Latin America.

Coco Pago's focus on convenience and speed differentiates it from traditional remittance services such as Western Union and MoneyGram. By leveraging technology and implementing sophisticated systems, Coco Pago aims to unleash the economic potential of Latin America. With the ability to download the app, send and receive money with phone numbers, and even pay for goods and services, Coco Pago offers a comprehensive solution for migrants and their families.

Next Section: Performance


Coco Pago has demonstrated strong performance since its launch in early 2022. The company has quickly gained traction and is currently generating $90,000 monthly revenue. Furthermore, Coco Pago has achieved profitability within its first year of operation, indicating efficient financial management and a viable business model.

The company has successfully raised $1.5 million in funding from prominent investors, including YCombinator. This financial support has provided Coco Pago with the necessary resources to fuel its growth and expand its operations.

Coco Pago's primary product offering is its PagO platform, which enables convenient and fast remittances and money transfers. With stablecoin technology, migrants can send money back home to Latin America within seconds. The platform also allows recipients to receive and utilize the funds through their phone numbers, facilitating quick and seamless transactions for goods and services.

Coco Pago's model primarily relies on transactional revenue generated through its platform. The company has achieved 2022 sales of $10,178,282, which differs from the income from its remittance service. However, it is essential to note that Coco Pago has experienced a 23% decline in sales from 2021 to 2022. 

Next Section: Risk


While Coco Pago has shown promising revenue and profitability, there are several risks that investors should be aware of. Firstly, the market for digital cross-border remittances in South America is highly competitive, with both indirect and direct competitors vying for market share. This level of competition can potentially impact Coco Pago's ability to attract and retain users.

Additionally, Coco Pago operates in a heavily regulated industry, requiring high market approval and license regulations. Compliance with these regulations can be complex and costly, posing a risk to the company's operations.

Furthermore, the annual revenue growth of Coco Pago has been negative, indicating a decline in revenue over time. This trend could affect the company's future financial performance and potential for growth.

Next Section: Bullish Outlook

Bullish Outlook

Coco Pago has successfully tapped into the growing market of digital cross-border remittances in Latin America. The company's platform, PagO, offers a convenient and fast solution for migrants to send money back home using stablecoin.

The company's profitability and solid revenue stream of $90,000 per month demonstrates the viability and sustainability of its business model. Coco Pago's focus on convenience, speed, and affordability has resonated with its target audience, resulting in a growing user base and consistent revenue generation. The company's ability to achieve profitability relatively quickly is a testament to its strong execution and market demand.

Furthermore, Coco Pago's participation in renowned accelerator programs such as YCombinator and Cold Start (Venture Studio) has provided valuable support and guidance. These programs have helped the company refine its strategy, expand its network, and access resources crucial for scaling its operations.

Coco Pago's unique offering and focus on the Latin American market set it apart from its rivals in a highly competitive landscape. The company has created a differentiated and valuable remittance platform by leveraging advanced technology and implementing smart distribution systems. The barriers to entry in this market are high, making it difficult for new players to gain traction, giving Coco Pago a competitive advantage.

Next Section: Bearish Outlook

Bearish Outlook

Coco Pago operates in a highly competitive market, facing well-established competitors such as Revolut, Wise, Remitly, and others. These companies have already built strong brand recognition and trust among customers. Coco Pago's ability to carve out a significant market share in this competitive landscape remains uncertain. Without solid partnerships or unique differentiators, Coco Pago may struggle to attract and retain customers in the long term.

While Coco Pago claims to be profitable, its financials raise concerns. The company's annual revenue has declined by 23% since its last funding round, indicating a potential struggle to maintain growth and meet revenue targets.

Next Section: Executive Summary

Executive Summary

Coco Pago is a financial services platform that aims to revolutionize the remittance industry in Latin America. The company's PagO platform allows migrants to send money back home swiftly and conveniently using stablecoin. The platform's user-friendly interface enables users in Latin America to download the app, send and receive money in seconds using phone numbers, and pay for goods and services.

Despite launching only recently in early 2022, Coco Pago has already demonstrated impressive traction, generating $90,000 in monthly revenue and achieving profitability. This early success is a testament to the platform's effectiveness and the sizeable market need for such a solution. The company has also secured $1.5 million in investment from YCombinator and other prominent investors, further validating its business model and growth potential.

However, the remittance industry is highly competitive, with major players such as Western Union and MoneyGram and fintech startups like Revolut and Wise. Coco Pago must continue innovating and delivering superior value to its users to differentiate itself and gain market share. Furthermore, the company's revenue has recently experienced a medium decline, which could be a concern if it persists. Despite these challenges, Coco Pago's current valuation of $10 million seems reasonable, given its early traction, growth potential, and the vast addressable market in Latin America.


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Coco Pago on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

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