Papatel

Focuses on lower cost alternatives to remittances& affordable communication

Financial & Insurance activites | Colombia | Access to Financial Services |

Profile Provided By: Company Website

http://papatel.com

Overview

Papatel is a fintech company that is disrupting the $650B global remittance market using a globally scalable platform that provides low cost easy remittances and communications. Papatel offers a combination of in kind and cash remittances along with freemium international calls. With cash and in kind remittances via products and services combined that include mobile phone top ups groceries appliances and other items and services redeemed at the destination country Papatel solves the biggest problems for remittances companies. In addition Papatel has a customer acquisition system that offers free international calling to any mobile or landline worldwide regardless internet connectivity unlike any other company to date. Papatel s mission is to improve the quality life of immigrants in developed countries and the general population of emerging economies. As of December 2015 Papatel had annual revenues of $3.15 million is currently at a $3.7 million run rate and has most importantly reached the break even point. The company had seventy thousand active and two hundred twenty two thousand registered users which have been achieved with virtually no marketing expense. The Company is incorporated in Delaware headquartered in Miami FL with a proprietary call center and development teams located in Colombia.