CEO and Co-founder @Tumoni
Tumoni
-based banking app that lets residents send money to family and friends in Nicaragua with zero transfer fees and instant delivery.
- Financial Technology
Updated 5 months ago
Funding
Raised to date
$2.3MRaised 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.
Funding rounds are not available yet.
Founders
Product
Problem
People sending remittances from the United States to Nicaragua often face high transfer fees, long processing times, and limited access to cash once the money arrives.
Solution
Tumoni offers a U.S.-based banking app that enables zero‑fee, instant transfers between Tumoni users in the U.S. and Nicaragua. Users verify their identity with a passport, driver’s license, or official ID and receive a Visa® debit card linked to their account. The card can be used to withdraw cash at more than 50,000 ATMs and to add cash at over 90,000 retail locations across the United States, providing recipients with immediate access to the full transferred amount. The app also supports mobile check deposits with built‑in fraud monitoring, allowing users to fund their accounts without visiting a branch.
Target Audience
Primary customers are U.S. residents who need to send money to family or friends in Nicaragua, as well as recipients in Nicaragua who require fast, fee‑free access to funds.
Features
- Zero‑fee, real‑time transfers to other Tumoni users in the U.S. or abroad
- Visa® debit card delivered to the user’s home for nationwide ATM withdrawals and retail cash‑add locations
- Mobile check deposit via phone camera with automatic fraud detection
- In‑app location finder for nearby ATMs and cash‑add points
- Identity verification using passport, driver’s license, or official ID