Regalii, the first global bill payment API that allows companies to pay any bills anywhere in the world, has expanded its footprint to Africa.
The company announced yesterday (July 22) that its new service will enable Africans to pay bills while in the U.S. with 60 utility companies in Nigeria, along with 18 global remittance companies.
“Africa is an important region to drive our continued business growth, and we are squarely focused on delivering against our millennial immigrant strategy,” Edrizio De La Cruz, Regalii cofounder and CEO, said in a news release.
According to Regalii, the remittances market in Africa hit $32 billion in 2013, which is anticipated to increase to more than $40 billion in 2016. Global remittances, of course, have provided a secure lifeline between family and friends across the globe, particularly across many poor and emerging countries.
“All immigrants leave part of their family behind for better opportunity, and part of that American Dream includes supporting those loved ones we left home. We do that through remittances,” says De La Cruz. “The traditional money transfer process is complicated, expensive and does not offer a sense of control for the sender. Regalii is the ideal solution and puts money back in the sender’s pocket, putting the traditional methods of money wiring less relevant for today’s more tech savvy global consumer.”
Through its white-label and Web platform, Regalii enables immigrants to pay their family’s bills across the globe. It is touted as the “only mobile and Web platform that provides real-time balances and payments” and works with 300 billers in 10 different countries. It also works with 18 remittance partners in the U.S. across 40,000 locations.
According to the company, its major investors include Y-Combinator, Andreessen Horowitz, Maverick, Winklevoss, Kapor Capital and Alexis Ohanian.