Impact metric175% growth in revenues since selection
“I saw an opportunity to facilitate payments for millions of small and mid-sized merchants via the Internet.”
- Financial Services
Airbanq revolutionizes the way the underbanked access their money, offering them an escape from expensive, unfair and inconvenient financial services into a friendly and trusted environment empowered by their own communities.
Airbanq combines agent banking best practices learned in emerging market countries with a business model derived from the likes of Lyft and Airbnb, to create a “mobile banking without a bank” service targeting the 51 million (and growing) US underbanked.
The Airbanq service—which could not have existed even a year or two ago—is possible due to the acceleration of smartphone and social media penetration into the underbanked demographic. By leveraging these trends and the sharing economy, Airbanq has radically improved delivery and underwriting methods for these underbanked consumers, resulting in safer and less risky transactions.
Launched in 2014 in Oakland, California with remote check cashing as its first product, the Airbanq service is in the process of becoming a new kind of cash in/cash-out network that is convenient, affordable, and 100% mobile, and will eventually be larger than Western Union or Moneygram.
Endeavor and Yattos
Endeavor has provided the Entrepreneurs with a high level of services. When the entrepreneurs sold a majority stake of their company, Endeavor VCs served as advisors on the deal. They have also received legal and operations support, Secretaria de Economia funding, and participated in an Entrepreneur Summit.
Leo and Alex speak regularly at universities and in the media on behalf of Endeavor.
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