We will provide safe dollar financial services for anyone, anywhere.
About
Applicant name: Valiu
Innovation Name: Valiu
Innovation Type: Product
Website: https://www.valiu.com/
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 Name: Valiu
Innovation Type: Product
Website: https://www.valiu.com/
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.
Our transfers are transparent. We provide the final exchange rate in seconds, we do not charge hidden commissions, and once the migrant requests the transfer, we guarantee their exchange rate until their family receives their money. Our transfers are fast. In Remittances, we take 30 min to deliver the cash in Venezuela, and with dollar transfers, it is immediate and free. The black market can take several days. Thanks to Valiu, migrants and their families can avoid hyperinflation by keeping their money in dollars compared to receiving the cash in bolivars, which destroys the value of remittances in just d
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.
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.
We solve this problem for Venezuelan migrants and their acquaintances back home. We use blockchain and crypto managing complex trading and treasury engine. Still, we abstract the use of crypto to ultimately provide a transparent and straightforward experience in our financial services. We are solving hyperinflation and remittances to Venezuela at the same time.
The advantages are speed, security, costs, privacy, and economic stability.
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.
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.
Valiu users sign up with their phone numbers, which means that you can send money to other users as long as you have their phone numbers in your address book. If you don’t have enough money on your Valiu account, the app can charge your debit card directly, or you can pay cash. And if you want to withdraw money from your Valiu account, you can transfer your balance to your local bank account.
Banks play an essential role in our ecosystem. They are the rails to cash in and out in each country.
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.
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.
We’ve overcome many challenges. Among them:
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. 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.
Figures:
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
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
Main Category
Main Category Choice: Remittances For Social Impact
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.
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.
There are more than 6 million Venezuelan migrants and more than 20 million of their families back home who can benefit from our solution.
You can learn more from our team here: https://drive.google.com/file/
You can learn more from our users here: https://www.notion.so/valiu/
You can learn more from our users here: https://www.notion.so/valiu/
Secondary Category
Secondary Category Choice: End-user Experience
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.
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.
The most significant development of our user experience is free, immediate transfers.
Team Members
Full Name: Simon Chamorro
Role: CEO
Linkedin: https://www.linkedin.com/in/
Role: CPO
Link: https://www.linkedin.com/in/
Role: CTO
Link: https://www.linkedin.com/in/
Role: CMO
Link: https://www.linkedin.com/in/
Role: CEO
Linkedin: https://www.linkedin.com/in/
Role: CPO
Link: https://www.linkedin.com/in/
Role: CTO
Link: https://www.linkedin.com/in/
Role: CMO
Link: https://www.linkedin.com/in/
Supporting Links
Deck: https://drive.google.com/file/
Who are Valiu’s users: https://www.notion.so/valiu/
Metrcis: https://metabase.valiu.co/
Who are Valiu’s users: https://www.notion.so/valiu/
Metrcis: https://metabase.valiu.co/
Entry Representative
Full Name: Simon Chamorro
Role: CEO
Role: CEO
