RecargaPay

RecargaPay do Brasil Serviços de Informática Ltda.
Screenshot
RecargaPays's home page
Type of business Private
Type of site
 Mobile Money Wallet [1]
Available in Portuguese
Founded November 1, 2010 (2010-11-01)
Headquarters São Paulo, Brazil
Coordinates 23°35′20″S 46°40′50″W / 23.5889°S 46.6806°W / -23.5889; -46.6806Coordinates: 23°35′20″S 46°40′50″W / 23.5889°S 46.6806°W / -23.5889; -46.6806
Area served Brazil
Founder(s)
Key people Rodrigo Teijeiro
(CEO)
Álvaro Teijeiro
(CTO)
Gustavo Victorica
(COO)
Diego Escobar
(CFO)
Renato Camargo
(CMO)
Industry Internet
Employees 85 (February 22, 2018) [2]
Website recargapay.com.br
Registration Required
Users Over 10 million wallets [3]
Current status Active

RecargaPay is a mobile payment platform[1] company based in São Paulo, Brazil. Its website was launched on November 1, 2010.[4]

Accessible by desktop, laptop and tablet computers, as well as smartphones, RecargaPay allows its users to pay digital services such as prepaid mobile top-ups, bill payments, gift cards, public transport cards and peer to peer payments without needing a bank account.[5][6]

History

RecargaPay was incubated by Fnbox in November 1, 2010. Fnbox was a holding company that managed various online properties, such as Sonico.com (sold to Match.com in 2014), Tarjetastelefonicas.com, Cuponica.com (sold to Clickon in 2015) and Recarga.com (now RecargaPay).[7]

RecargaPay was created to provide prepaid mobile recharge services through a website and, shortly after launched, also through mobile apps (Android and iPhone). In 2013 Fnbox started an unbundling process in order to focus exclusively on the prepaid mobile top-ups business. Within this process, Recarga.com was rebranded to RecargaPay in order to diversify its product offerings. According to its CEO, Rodrigo Teijeiro, RecargaPay is "much more than just top-ups". [7]

In February 22, 2018, RecargaPay raised $22M in Series B funding.[2][8]

Corporate affairs

RecargaPay's headquarters in São Paulo, Brazil

Management

RecargaPay's key management personnel consists of Rodrigo Teijeiro (Founder and Chief Executive Officer), Álvaro Teijeiro (Co-Founder and Chief Technology Officer), Gustavo Victorica (Co-Founder and Chief Operating Officer), Diego Escobar (Chief Financial Officer) and Renato Camargo (Chief Marketing Officer).[9]

Funding

According to the company's profile at AngelList, as of February 22, 2018, RecargaPay received a total funding of $33,153,334 from the following sources:[10]

  • 05/01/2008, Series A, $4,231,000 from DN Capital and Steve Schlenker
  • 02/01/2010, Series A, $1,768,781 from DN Capital and Damian Voltes
  • 12/01/2014, Series A, $653,553 from FundersClub and Martín Varsavsky
  • 09/28/2015, No Stage, $2,100,000 undisclosed
  • 06/01/2017, No Stage, $2,400,000 undisclosed
  • 02/22/2018, Series B, $22,000,000 from Ventech, Martín Varsavsky, Fabrice Grinda, Rodrigo Sepulveda Schulz, the International Finance Corporation (IFC) and TheVentureCity.

Offices

As of February 15, 2018, RecargaPay's headquarters are located in Rua Professor Atílio Innocenti, nº 165, Vila Nova Conceição, São Paulo, Brazil[9]

It also has an office in Argentina, located at 1246 Ayacucho Street, Buenos Aires.[9]

Ratings

According to Google Play, as of February 15, 2018, RecargaPay's Android App had between 5,000,000 and 10,000,000 installs, and more than 219,000 reviews with an average rating of 4.4 stars out of 5.[11]

Awards and recognition

In 2016 RecargaPay was nominated by Latam Founders as finalist in the "Best B2C Company" and "Most Innovative Company" categories.[12]

References

  1. 1 2 Kemmer Cernev, Adrian (March–April 2017). "O futuro do dinheiro eletrônico". GVEXECUTIVO. 16 (2): 44. Retrieved April 12, 2018.
  2. 1 2 "RecargaPay Raises $22M in Series B Funding", FinSMEs (REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS), 02/22/2018
  3. ↑ Richard Fenning , "RecargaPay Partners with Top App in Brazil", Linkedin Pulse, 07/21/2016
  4. ↑ "RecargaPay Company overview at Crunchbase"
  5. ↑ Nick Hastreiter, "Mobile Wallets: How They Are Democratizing Financial Services", HuffPost News, 02/28/2017
  6. ↑ Julian Mitchell, "This Mobile Payment Platform Has Become The Apple Wallet Of Brazil", Forbes, 06/29/2017
  7. 1 2 Rodrigo Teijeiro "The great unbundling of Fnbox, and how it became RecargaPay", Linkedin Pulse, 09/11/2015
  8. ↑ Samantha Hurst, "Brazilian Mobile Payments Platform RecargaPay Secures $22 million Through Series B Investment Round", CROWDFUND INSIDER, 02/23/2018
  9. 1 2 3 "RecargaPay's website"
  10. ↑ "RecargaPay profile at AngelList"
  11. ↑ "RecargaPay Android app at Google Play"
  12. ↑ "Latam Founders Network, LFN Awards"
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