Retorna is a digital platform that facilitates secure and rapid international money transfers, allowing users to send funds in local currencies to recipients in multiple countries within minutes. The application addresses the need for transparent and reliable remittance services, ensuring no hidden fees and providing real-time transaction tracking for users.
Funding
$1.2M 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.
IVFounders
Product
Problem
Migrants often face challenges when sending money to their families back home, including high transfer fees, slow transaction times, and unreliable service, sometimes resorting to informal channels with risk of fraud. Existing remittance services may lack transparency and convenient access for unbanked individuals.
Solution
Retorna is a digital platform that facilitates secure and rapid international money transfers, enabling users to send funds in local currencies to recipients in multiple countries within minutes. The platform provides transparent and reliable remittance services, ensuring no hidden fees and providing real-time transaction tracking. Retorna offers both express and traditional transfer options, allowing users to choose the speed that best suits their needs. The company partners with financial institutions to deliver immediate transfers and supports various payment methods, including bank transfers, mobile wallets, and cash payments.
Target Audience
Retorna primarily targets migrants who need to send money to their families and loved ones in their home countries, particularly those who value speed, security, and transparency.
Features
- Mobile application available on iOS, Android and Huawei AppGallery
- Supports transfers from Chile, Colombia, Peru and the European Union to Venezuela, Colombia, Peru, Argentina, United States and Spain
- Offers both express transfers (within 10 minutes) and traditional transfers (within 2 hours)
- Provides competitive exchange rates calculated daily based on the dollar's quotation
- Complies with policies for the prevention of crimes and financing of terrorism
- Offers customer support via WhatsApp
- Provides identity verification to protect against fraud and money laundering
- Offers multiple payment methods depending on the country of origin, including bank transfers, PSE, and cash payments