Friday, May 9, 2014
Quippi Expands Partner List In Mexico
San Diego-based Quippi said this week that it has expanded its list of partners in Mexico. The startup--which is backed by Avalon Ventures--operates a financial service which lets consumers in the U.S. send money in the form of gift cards to their friends and family in Mexico. Quippi said it has added four new partners, including Office Depot Mexico, Farmacias Benavides, Farma Todo, and Opticas Devlyn. Quippi is taking aim at the traditional remittance market, where workers in the U.S. typically send money back to family in Mexico; however, those transfers typically come with high fees. Quippi said its use of gift cards to offer fee-free alternatives to those money transfer services. The company says it has raised over $3M in venture funding in total so far.