Meet Coco Pago, the innovative web3 wallet platform designed to change financial transactions for Latin American migrants. Led by CEO Kevin Charles, Coco Pago stands as a beacon of fintech innovation, offering free, stablecoin-based money transfers and overcoming traditional banking challenges in markets like Venezuela. This fascinating founder profile explores their strategy, vision, and commitment to financial inclusion.

Funding Round Details

Coco Pago logo
Company: Coco Pago
Security Type: SAFE
Valuation: $10,000,000
Min Investment: $100
Platform: Wefunder
Deadline: Jan 22, 2024
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Describe your company in your own words.

Coco Pago is a web3 wallet, akin to Revolut for Latin America, enabling free, stablecoin-based money transfers for Latin American migrants to their families.

What inspired you to start this company?

As a Venezuelan migrant in NY, I discovered blockchain in 2014. Experiencing costly traditional money transfer methods, I saw a clear need for a cheaper, blockchain-based solution.

Who is on your team and how did you come together?

My brother and I co-founded, Venezuela’s first Bitcoin exchange. Francisco Martin (Co-founder, CMO) – A Venezuelan migrant in Spain, with experience in crypto payment services, he joined us to extend our reach.

Why is Venezuela a unique market opportunity?

Due to sanctions and banking restrictions, Venezuela’s $100B economy is untapped by fintech. Our decentralized wallet overcomes these hurdles, enabling Venezuelans to manage their funds without traditional banking risks.

Can you outline your product expansion plans?

We plan to leverage our 7M Venezuelan migrant user base in key countries (USA, Spain, Chile, Colombia, Brazil) as a springboard to offer decentralized banking services to a wider, global audience.

What should potential investors know about you and/or your company?

We’re a team of experienced migrants in web3 development, committed to building a multi-jurisdictional banking alternative through a user-friendly web3 wallet, Coco Pago.

What do you see as potential exit opportunities in 5-10 years?

In 5 years, we aim to be a leading service like Revolut or Cashapp in Latin America, ripe for acquisition. In 10 years, we envision evolving into the Stripe of Web3 Payments, positioned for a public offering.