Regalii, founded in 2013 by three Latino entrepreneurs, provides financial institutions a white-label API to aggregate all bill payments onto a single platform. The company started as a way for immigrants to send remittances home with no middlemen, an idea that brought Regalii to the stage at Y Combinator‘s 2013 Demo Day.
After a pivot, Regalii became a way for companies to pay bills anywhere in the world, enabling diaspora communities to pay bills in their home countries directly. Regalii is already backed by Sequoia, Andreessen Horowitz, Kapor, Maverick, Capricorn, Winklevoss Capital, and Y-Combinator, and added Ignia as an investor in 2018. Regalii is Kapor’s second investment in a startup operating in Latin America, the first of which being Magma Partners’ GroupRaise.
Ignia is a venture capital fund that supports high-growth companies that serve the growing middle-class in Mexico.
Said Ignia Managing Partner, Álvaro Rodríguez Arregui, in the original LAVCA press release:
“We are in the digital era and payments generally still need up to 3 days to be processed. There is clearly a need for new technologies in the banking system at a time where banks have client retention challenges, and customers need quicker, more efficient and convenient ways to organize their finances.
We are thrilled to partner with Regalii in the bill payment market as we share the vision and are convinced of the huge market opportunity.”
Read more about Regalii here: