“Attracting Venture Capital By Not Ripping Off Immigrants”
It’s the people struggling to make ends meet who often pay the biggest fees to financial services companies—and that includes immigrants sending money back home to their families.
They’re also rarely even on venture capital investors’ radar screens.
Michael Aleles is trying to change all that. His San Diego-based social enterprise Quippi , launched in December, has a fee-free international gift card initially focused on the $23 billion that consumers send back to Mexico from the U.S. every year.