Waleteros

Waleteros is a social enterprise with a clear mission: create a world where the best financial services are available for everyone. In developing countries, the mobile phone has become an important tool to facilitate financial inclusion. In Kenya, over 70% of the population uses the mobile money service known as m-pesa. Just after 6 years since its launch, 25% of Kenya's GDP moves through m-pesa. Similar developments exist in the Philippines, South Africa, Mexico, Tanzania and many more emerging countries. The USA market has much to learn from these initiatives. According to FDIC, almost 30% of USA's population is non-banked or under-banked. Considering the 51 million Hispanics in USA, this percentage rises to 50%. However, until the arrival of Waleteros, there where no mobile solutions focused on the non-banked Hispanics. A unique venture, created by Latinos for the Latino market. It all starts with the understanding that our customers have very sophisticated financial needs, despite not using a bank account. When a large portion of your income is used to meet basic needs, efficient management of money can make a big difference. Currently these consumers use check-cashing stores for their financial transactions, but these services are very expensive. In Waleteros we are convinced that there is a better way. Waleteros was created in 2013 by 3 partners based in Miami. Each partner has an extended international career, and shares the ambition of starting a business with high social component, which combine their complementary expertise in areas of mobile financial services, media and the Internet.