Pademobile, Growing Mobile Financial Services Platform, Partners with Plug and Play

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Spanish-Mexican mobile financial services platform grows to over 5 million users, partners with global start-up accelerator Plug and Play

Pademobile and Plug and Play have closed an agreement in which the Spanish-Mexican company will leverage the investor and accelerator’s global community to scale their company internationally. At the end of 2014, Pademobile’s user base had grown to over 5 million users across Mexico, Spain, the US, Latin America and Botswana.

“We are pleased to announce the strategic alliance of Plug and Play with Pademobile, with which we are broadening our FinTech portfolio by adding the key mobile channel,” said Plug and Play’s Founder and CEO, Saeed Amidi. “We like how Pademobile is bringing an easy-to-use mobile financial product to the masses—we are very excited to be a part of their story.”

For several years, Pademobile has implemented a business model that today enhances the possibility for banks to compete against social platforms, such as Google and Facebook, with their respective alternative financial products.

“This agreement is a consequence of months of hard work. We believe that Plug and Play is the ideal partner for our international development. We are looking at 2015 in which we need to consolidate our platform internationally, materialize our closed deals and double our valuation,” said Raul Nogales, Pademobile’s CEO and Founder.

Pademobile aims to bring their solutions for financial inclusion throughout Latin America, Europe and Southeast Asia. With Pademobile’s Exchange Messenger®, and both mobile remittance and bill-pay solutions available in thousands of locations, including 7-Eleven® in Mexico, Plug and Play’s global presence will serve to augment Pademobile’s international business development.

Plug and Play, and its investment fund, Plug and Play Ventures, has been involved with some of Silicon Valley’s largest success stories, with investments in PayPal, DropBox and Lending Club, Silicon Valley’s largest IPO of 2014. With one of the most stable and acknowledged networks of corporations and investors in Silicon Valley, Plug and Play leverages global locations and partners in over 20 different countries. Plug and Play also recently announced their FinTech Startup Accelerator initiative which includes partnerships with Citi, USAA, Intuit and JCB.

About Plug and Play
Plug and Play Tech Center is a global investor and technology accelerator that specializes in growing tech startups. Headquartered in Sunnyvale California, Plug and Play’s network includes over 300 tech startups, 180 investors, and a community of leading universities and corporate partners.

About Pademobile
Pademobile was created in Mexico in July 2010, its offices are located strategically in the US (Silicon Valley, Sunnyvale), Mexico (Mexico City and Aguascalientes) and Spain (Madrid and Granada). Pademobile is a mobile financial platform that transforms a cell phone number into an account, multi-wallet, multi-bank, multi-operator and multi-service, merging the banked and unbanked markets. Pademobile meets all current international regulations regarding money laundering prevention as well as local, state and country regulations. Contact Lucia Cangas to learn more about Pademobile: lucia(dot)cangas(at)pademobile(dot)com

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Mirjana Shasha
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