Waleteros, part of Venture Hive’s 2014 Accelerator program, has been invited to compete at the National Tech Cocktail Celebrate Conference. Their team will be traveling to Downtown Las Vegas for the conference on October 6th and 7th. The event showcases the best startups from around the United States. Waleteros will be displaying their product and competing for a spot in the final four to pitch in front of the conference audience. Various investors, mentors, founders, industry professionals, media, and celebrities will be in attendance with notable speakers and judges including Tony Hsieh, David Cohen, David Copperfield, and Gabriella Draney.
Since joining Venture Hive, Waleteros has produced an impressive resume, including being the winners of Geek Tank II and part of the top three winners at Refresh Miami. They are also a top finalist at the 2014 BBVA Open Talent Competition, a world-wide contest where over 870 companies competed. Waleteros CEO and founder, Etienne Gillard, is a serial entrepreneur with international business experience and a strong passion for his work. One of his partners, Thomas Wenrich was previously the CFO/COO at Open English and the owner of 20 check-cashing stores. Their accomplishments are extraordinary and Venture Hive is honored to have them as part of the Accelerator Program.
Waleretos is a Miami-based company that provides mobile banking to those without access to financial services. Waleteros offers underbanked or unbanked consumers the same services as a cash-checking store, but from the convenience of a smart phone. They allow customers to cash checks, withdraw money from ATM’s, transfer money internationally, qualify for small loans, and pay bills safely, conveniently, and inexpensively. Users receive a free prepaid card upon registration and can use it in conjunction with the app. The company is set to go live by mid-November with a projection of 12,000 registered users within the first year.
In the United States, around one third of the population is unbanked or underbanked and of this figure, 25 million people are Hispanic. The average yearly spending in cash-checking stores is four hundred dollars, making this a $10 billion market. Waleteros is hoping to target this market segment through strategic partnerships and the financial inclusion of Hispanics. Their focus on the Latin and Hispanic demographics differentiates them from competitors and gives them a competitive advantage. The company is partnering with independent cell phone stores who will help promote the app by encouraging customers to register. Waleteros already has 40 stores in the Miami area who are pre-enrolled for partnerships.
To learn more and to register for Waleteros, please click here.