We will provide safe dollar financial services for anyone, anywhere.
Innovation Name: Valiu
Innovation Type: Product
Mission: Create a stable monetary union. We will provide safe dollar financial services for anyone, anywhere.
Innovation Description: Valiu provides reliable and borderless financial services to all Venezuelans. We have created a mobile application that allows access to a convenient dollar savings and transfer system for any migrant or family member, regardless of their socioeconomic status or the range of their phone. Specifically, we offer transparent exchange rates, low costs, fast currency exchanges, convenient payment options, and security on all operations.
Innovation Inspiration: The Venezuelan diaspora is known as one of the most critical social crises of our time. Being born in Venezuela and having the technical knowledge to build this solution, it became evident that this was my path.
Who benefits from the innovation most? Both senders and recipients benefit the most, but ultimately anyone in Venezuela and Colombia who wants to convert their fiat money into a digital dollar account to save stably and send money for free and immediate to anyone.
What are you most proud of about your innovation? We are different because we are the first dollar account in LatAm that allows anyone to cash in and cash out with local fiat. By being a dollar account we allow people to send money to each other immediately and for free.
1. We figured out how to legally operate in Colombia and how to bypass Venezuela’s capital controls.
2. We’ve designed all the financial engineering to create a stable dollar asset.
3. We have put together an all-star team.
4. We have created good relationships with banks, regulators, and payment processors.
1. 9 months since launch
2. users: 15,467
3. Volume sent: 2,189,750 USD
4. Transfers: 110,530
5. Families benefited: 38,667
6. Cash Payment partners: 30,000 locations
Status of Innovation: In-market
Innovation Active Since: 02/01/2019
Applicant Type: Private Company
Headquarter City: Bogota
Headquarter Country: Colombia
Year Founded: 2018
Why do you think you should win this category?:
We are providing Venezuelan migrants the fastest, cheapest, and safest way to send money into Venezuela. We are also providing their families who receive the money the only app to receive dollars to protect themselves from inflation. This way we are providing all the financial services that migrants and their families need to have financial prosperity. Stable savings and free money transfers.
You can learn more from our users here: https://www.notion.so/valiu/
Why do you think you should win this category?
We have designed an app that wights less than 14mb that can run on the lowest end of smartphones that migrants own. We’ve created a UX and UI that maps to existing services they use for ease of learning. We feel that we have the best mobile banking experience for migrants, by allowing cash in using any method (cash, debit, and credit) and cash out to the local fiat.
Full Name: David Barinas
Full Name: Christian Knudsen
Who are Valiu’s users: https://www.notion.so/valiu/