La plataforma is a social venture that delivers convenience and affordability to the remittance process. We send cash and ACH bank transfers from the United States to countries in Latin America and the Caribbean. For low-income Latinos, especially immigrants, living in the US, la plataforma allows them to more effectively provide support to their family in their country of origin with or without a US bank account.
Specifically, la plataforma provides a mobile app to send international money transfers from the US to countries in Latin America and the Caribbean. The app will enable customers to send one ACH bank transfer or cash based remittance of up to $200 per week. Each remittance will be subject to a 5% fee and use the real exchange rate at the time of the transfer request for currency conversion. Sending international money transfers is currently only economical when sending $300-$500 at one time, however this can be financially difficult for low-income individuals with less financial flexibility. la plataforma will allow low-income individuals, especially immigrants, to support their family in their country of origin by sending smaller and more frequent remittances with or without access to a bank account. By making it more convenient and efficient for these individuals to send money home, we hope to increase financial support, reduce poverty and promote financial inclusion throughout the region by digitalizing remittances for low-income Latino populations. la plataforma was founded in the US in early 2016. We are a very early stage company looking to build out the company’s infrastructure and minimum viable product prior to our official launch and seed fundraising round in mid-2017. We were recently selected for the Start-up Chile accelerator program.
Learn more about la plataforma here: www.laplataformalatam.com
For the final deliverables to the company, the consulting team is expected to identify global trends and why they work, key global/regional competitors, and 3-4 specific Latin American/Caribbean markets with detailed market entry plan with a list of proposed partners per market.
- Identify major global trends in the remittance industry and advise on applicable trend strategies for the Latin American/Caribbean markets
- Competitive analysis: Identify major industry players as well as up-and-coming startups in the Latin American and Caribbean markets
- Analyze strategic opportunities for market entry
- Perform an analysis of the Latin American/Caribbean markets (focus on Mexico and Colombia + 1-2 other promising markets)
- Outline detailed opportunities and threats for the 3-4 main markets identified
- Propose a strategic action plan to enter the proposed markets including potential partnership opportunities with local businesses
The management team of la plataforma will incorporate your recommendations when operative, tactical and strategic decisions are to be made in the dear future.
The NGC consulting team will remain in constant contact with la plataforma and its management to improve knowledge and accuracy of recommendations throughout the project in order to eventually develop the best possible recommendations.