Coco Pago

Crypto-Venmo For Remittances

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Security Type
CAFES
Categories
Technology, Retail, Social Impact, Community & Lifestyle, Financial Services, Other, Crypto & Blockchain
Min Investment
$100
Location
Brookyn, NY
Offering Date
September 17, 2021
Expected Close Date
April 29, 2024
Target Raise
$125.00K-$384.72K
No. Investors
196
Security Price
$1
Website
cocopago.app
Number of Employees
70
Cash
$65,409
Revenue
$10,178,282
Short Term Debt
$133,296
Cost of Goods
$9,820,771
Long Term Debt
$1,334,333
Net Income
$-732,985

Company Description

As migrants, we understand the impact remittances have in the lives of the people who rely on them to survive and the recipient countries in general. We founded Coco Pago to help unleash the economic potential of Latin America, by implementing sophisticated technological systems that create smart ways to administrate and distribute resources.

Key Deal Facts

Trusted by 50k remitters from +100 countries; over 60k recipients in Venezuela
16M in Revenue to date since launch = 1,100% annual growth from 2019 to 2020
Annual Gross Profit = $1M in 2020
Customer lifetime value = $50 and customer acquisition cost = $10 Payback = 1 month
Digital cross‑border remittances will grow from $295 billion in 2021 to $428 billion in 2025

Management Team / Advisory Board Bios

Kevin Charles, CEO
Previously co-founded the first bitcoin exchange in Venezuela. Full stack software engineer. Economist. Futurist.

Victor Charles, CFO
Previously co-founded the first bitcoin exchange in Venezuela.


Francisco Martin, CMO
Founded a licensed cryptocurrency exchange in Europe.
Amount Raised : $194,396
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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