Coba provides a unified financial infrastructure layer specifically designed for US-Mexico cross-border commerce operations. The platform orchestrates money movement, FX conversions, and compliant payroll workflows across regulated banking and stablecoin rails. This enables businesses to achieve faster carrier settlements and maintain audit-ready compliance records for international transactions.
Funding
$2.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
KSSVFounders
Product
Problem
Individuals and businesses in Mexico face challenges with high fees and unfavorable exchange rates when conducting cross-border transactions, particularly when receiving USD payments. Traditional banking solutions often lack the efficiency and cost-effectiveness needed for seamless international money transfers.
Solution
Coba provides a financial platform that enables users to conduct cross-border transactions between the US and Mexico with zero fees and competitive FX rates. Coba offers a USD account fully integrated with the Mexican financial system, allowing users to receive payments, convert currencies, and send money. The platform provides a mobile-first experience with access to a virtual US debit card, enabling users to manage their finances and make payments in both USD and MXN. Coba aims to streamline cross-border banking for freelancers, remote workers, expats, and businesses operating in the US-Mexico corridor.
Target Audience
Coba targets individuals living in Mexico who receive payments in USD, including freelancers, remote workers, and expats, as well as businesses that operate between the US and Mexico.
Features
- USD deposit account for receiving payments from US employers or clients
- Zero fees on ACH deposits and SPEI payouts
- Competitive foreign exchange rates for USD to MXN conversions
- Virtual US debit card for online and in-person purchases
- Mobile app for managing accounts, sending money, and tracking transactions
- Integration with the Mexican financial system for seamless transfers
- FDIC insurance on USD deposits up to $250,000 through Bangor Savings Bank
- Optional tax support service for reporting payments and submitting tax declarations