Round 10

Do abroad business as easy as with locals

Budget request:  

Project Stage



Cross-Border Payments
Micro & B2B Payments

Based in

Mexico City

Team size

Active since

22 April 2022
Products & Services


Paying vendors is disorganized and inefficient because approvals, invoices, and payments are often on different channels, like WhatsApp messages, emails, and paper bills. As a result, Mexican companies lose up to +15% in revenue in cross-border payments and spend up to 30 hours or more a month on payment transactions, a time that would be best spent on strategy.

CashAbroad platform allows businesses in Latam to manage accounts receivable and debt to pay with international merchants and vendors in seconds. In addition, we use Stellar Anchor Network to have compliant FIAT to crypto On/Off ramp in Latam countries with low cost and instant transactions and plan to leverage the new corridor of Colombia through the Anclap anchor.


  • Pay international merchants and vendors in seconds. It gives the business owners the ability to pay directly with their local currency to abroad merchants.
  • Receive in 3-6 seconds payments from vendors and merchants in your local currency.
  • Natural language recognition for payments
  • Businesses can avoid WIRE high costs and receive payments directly to a wallet.
  • Local Tax Administrative Services integration (SAT in Mexico).
  • Pay local vendors through ACH, Wire transfers, and SPEI.
  • User profiles and permissions to add your accounting team to create, edit and cancel invoices.
  • Manage business quotations and approvals.

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Previous Project(s)
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Progress so far
  • Opportunity: Identified the Latam corridors as an opportunity to enable instant national and cross-border payments for vendors and merchants. Spoke with businesses and mapped the actual customer journey and pain points.
  • Branding: (under construction through a well-known design agency in México)
  • Technology: Defined Stellar as the way to go, Anclap as the anchor for the México-Colombia corridor, and identified providers for invoices and SAT integration.
  • Product: CashAbroad website (production), platform (under construction). Prioritized functionalities and sprints to develop the solutions and weighted resources needed to achieve our goal.
  • Funding: Currently raising funds in Startup Chile, Blockchain Academy Chile, and Techstars LA & Austin.
  • Partnership: Working on partnerships with The National Chamber of Commerce Coatzacoalcos (CANACO), International Business Woman (AMEXME), National Chamber of the Transformation Industry (CANACINTRA), and EXATEC business Community.

In 6 months, Cashabroad will launch and operate the México-Colombia corridor and other Latam corridors. We will enable a business profile that supports instant cross-border vendor and merchant payments by integrating the Stellar Anchors and national payments through SPEI. In addition, we will facilitate a regionalized experience for México businesses through the integration with the Tax Administrative Service to obtain, create and edit invoices as long as an authorization tracking of payments.

Through our networks in the National Chamber of Commerce (CANACO), the EXATEC Community of business, the Business Woman Association (AMEXME), and the National Chamber of the Transformation Industry (CANACINTRA), we will add the first 100 businesses to the platform.

To get there, we  will use our requested budget of  

Our team has experience leading, developing, and deploying successful products and services in startups as long as in companies like Walmart, Carso, Schibster, and Telmex impacting millions of monthly users.

To achieve our goals we will use the same approach applied to those successful products. We have structured 9 sprints of a maximum of 2 weeks each. Each sprint is prioritized commercially and has defined deliverables in terms of functionality and design and will be developed with unitary tests and user tests to assure quality. This plan will guide us in achieving our goals.

Our plan takes into account the legal compliance with a legal firm and the branding creation with a brand agency. As long as the deep cooperation in the events and communities around The National Chamber of Commerce (CANACO) , the International Business Woman Association (AMEXME), the EXATEC business communities, and the National Chamber of the Transformation Industry (CANACINTRA). From this relationship, we will obtain the first companies to include in our pilot tests.



Paying vendors nationally and internationally is disorganized and inefficient because approvals, invoices, and payments are scattered on WhatsApp messages, emails, and paper bills. Especially in international payments, they are regulatory approvals, AML regulations, fees, and exchange rates that make global companies lose up to +10% in revenue. Additionally, companies spend up to 11 hours or more a month on payments that could be spent on strategy.

There is an opportunity to consolidate and digitize the entire process, simplifying operations nationally and unlocking international partnerships and business expansions, reducing the cost of abroad payments.


For international B2B payments, Stellar Anchor Network allows us to have compliant FIAT to crypto On/Off ramp in Latam countries with low cost and instant transactions. The convenient cost of international payment enables local businesses to grow and expand internationally, maintaining their competitiveness.


Our target market is micro to medium-sized Latam businesses, which can range from 10 to 100 employees and with revenues from 4 to 250 million pesos Mexicanos that have vendors, merchants, or operations in different countries and therefore process recurrent payments abroad.

We will start with the professional services industry in the México-Colombia corridor. For Latam, this is the most prominent corridor with 150 million dollars annually movement, and Stellar current Colombia Anchor Anclap development will allow us to start operating there.

Once we establish our presence in Latam corridors, we will expand our services to high-volume corridors in the US, China, and India. As well as expand our services to other industries like eCommerce, hospitality, real estate, raw materials, logistics, exports, and imports of products.


We calculate an average income per cross-border transaction of 3%, including fees per transaction and an exchange rate commission.

Average cross-border remittance fees are 6.2%, depending on the country, with fees commission ranging from 0% to 15% plus exchange rate commissions. It is common to find competitors with a 0% transfer fee but with an exchange rate that decreases significantly the money sent. So we consider 3% a competitive fee.

We aim to achieve the integration of the first 100 businesses within the next six months focusing on the networks of the National Chamber of Commerce (CANACO), the National Chamber of the Transformation Industry (CANACINTRA), the EXATEC Community of business, the International Business Network (BNI) and Business Woman Association (AMEXME).


The average cross-border fee is 6.2% depending on the country; we aim to set a 3% average fee per transaction, including transfer commission and exchange rate.

Compared with the competitors, we are better than traditional rails as banks or MTO and similar to more recent tech services. We will compete by enabling a platform that focuses on the Latam niche with functionalities such as integration with the Tax Administration Services (SAT in México) to get the invoices.

In the future, we foresee supporting business in high-volume corridors from countries such as the USA, China, and India.


We forecast an average business transaction in SMEs in Mexico of USD 2,000 with a 3% overall commission fee per transaction and a rapid transaction growth month over month of 60% with our partnership with CANACO, CANACINTRA, AMEXME, and EXATECs.

We estimate to achieve by the six month: 256 monthly transactions and revenue of $15,360. And hit 4,295 monthly transactions at the end of the first year of operations with a revenue of $257,698.04.



The global B2B payments market size was valued at $942.6 billion in 2021 and will reach $1.91 trillion in 2028 at a CAGR of 10.6%. In Latam, we estimate a volume of cross-border payments of $168 Billion based on the remittance volume in the region.

In Latam, even if cash still is the primary payment method, larger central banks are launching initiatives to develop an open banking ecosystem that support the shift toward digital payments. The global pandemic boosted this change in countries such as Brazil and Mexico.

Additionally, the shift to digital payment methods was boosted by the favorable demographics of Latam since it has one of the youngest populations in the world.

In Mexico, the management of payments plays a substantial opportunity for improvement since, according to a study, 87% of the businesses reported late payments by B2B customers, which is, in part, caused by the manual reconciliation of invoices and payments that 40% of companies do, according to INEGI.

Percentage of B2B with late payments

The lack of fast and cost-efficient cross-board payment methods for businesses in Latam, combined with the favorable demographics and smartphone penetration, presents an ideal environment for Cashabroad to bring his solution to Latam businesses.



  • The team has substantial experience with more than 20 years of designing, developing, and deploying digital products in companies such as Walmart, Telmex, Schibsted, Resuelve tu Deuda, and Suggestic.
  • CashAbroad team members have deep knowledge of the Mexican market to open the corridor.
  • The team has high local relationships with the business through CANACO, CANACINTRA, and AMEXME associations.


  • Businesses use to do payments and accounting either in cash or paper checks. They will need convincing to switch to a different method even if it is easier and more efficient.
  • Latam bureaucratic process


  • Be the first B2B payment platform specialized in Latam.
  • 40% of businesses in Mexico still manage their accounting reconciliation manually, representing an opportunity for us.
  • Finding services with optimal FIAT to crypto on/off-ramp in Latam countries has been difficult. Stellar Anchors such as Anclap with Colombia give us an advantage against the competition.


  • Local regulators may threaten the final user experience; this can range from Banks' AML approvals that require days or business owners' accounting reports that add administrative tasks and costs.
  • Enabling high-volume B2B payments requires us to have liquidity in the network to maintain the exchange rate.


  • The current competitors are tech companies such as Paypal, Wise, Payoneer, Stripe, Square, IbanFirst, Flywire, Airwallex, Veem, Kantox, Nium, BlueSnap, Thunes, Rapyd, and Flexio.
  • Banks and MTOs
  • Our product differentiates by focusing on the Latam region, delivering regional solutions for accounting and regulations, and enabling low cost in Latam corridors through the Stellar Anchors as Anclap in Colombia.


  • For business prospects, we plan to work in partnership with the networks and communities of the National Chamber of Commerce (CANACO), the EXATEC Community of business, the International Business Network (BNI), and the Business Woman Association (AMEXME).
  • Among our main nurturing and engagement channels, we plan a mix of offline and online events with a viral discount fee to promote people that invite others to the event and a focus on Video memes on TikTok, YT shorts, and Reels.
  • We will also implement tools and compensation models for affiliates that invite people on corridors. Our message will be 0 fees and get Your Whole money.


Lourdes Hidalgo is the former President of the National Chamber of Commerce in Coatzacoalcos (CANACO) and a prominent member of the National Chamber of Commerce (CANACO) and the Business Woman Association (AMEXME), from which we have a direct connection with business in the region to pilot our solution.  

Ivan's community of developers supports us with the best talent for the development and deployment of the solution.

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Ruth Gómez Hidalgo

Position Co-founder, Head of Marketing and Sales

Ruth is an industrial designer with a marketing specialization in Miami MBP. In his career at Telco Telmex, she rapidly ascended as national manager of Digital marketing, leading customer acquisition, and engagement strategies, giving her deep insights into the B2B, B2C, and enterprise markets. Tech-savvy and enthusiast that has won prizes in competitions in Google, Microsoft, and Bosch


Braulio Ramírez Montiel

Position Co-founder, Head of Product

Braulio is a physics engineer and finances enthusiast with nine years of experience leading, designing, developing, and deploying digital products in companies such as PwC, Telmex, and Walmart. As Growth Manager, they stand out the deployment of Sams a Domicilio during 2020, increasing 25% of the digital sales that year, and Scan&Go in 2021, leading from México the India and USA teams in the implementation of auto-scanning and in-Club online payments reaching a growth of 8% in the monthly digital sales.

Ivan Alvarez Frías


Ivan is a software engineer with 20 years of experience. Founder in 2009 of the biggest IOS community in México IOS developers, a community that until now empowers with good relationships.

He has experience as the technical leader for teams in companies such as Carso, Schibster, and Bunsan. He is currently empowering fintech startups with Elixir in high transactional services.

Lourdes Hidalgo Carrión

Team´s Advisor

Lourdes Hidalgo Carrion is the current President of the National Chamber of Commerce in Coatzacoalcos (CANACO) and Director of the restaurant Hnos. Hidalgo Carrion with more than 40 years of experience. She has been Vicepresident of the International Business Woman Association (AMEXME) and a member of the National Chamber of the Transformation Industry (CANACINTRA).