Regalii was started in 2011 by Edrizio De La Cruz, a lifelong sender and receiver of remittances. He discovered that others shared the same frustrations involved with sending money home: the process was complicated, expensive, and didn't allow any sense of control for the sender. Upon graduating from The Wharton School, and a spike of violence among those carrying money home from remittance agencies in the Dominican Republic, he decided to take action. He assembled a group of founders who had grown up with similar issues in supporting their families. And so Regalii was formed.
Our customers are able to use our online platform, as well as one of our many stores in Washington Heights, to pay bills directly or send pre-paid food cards that arrive to their loved one's home the next day.
Regalii is financially backed by some of the world’s most prestigious banks, institutions and technology incubators, including Echoing Green, Y Combinator, and Banco Itaú.
Perplexed by how a process as emotional as supporting one's family, sending remittances, has turned so transactional, Edrizio likens the process to standing in line at the DMV. You wait in long lines and don’t really look forward to it. Regalii's hope is that through transforming the experience surrounding money transfer, our customers will be able to enjoy the process of supporting their loved ones overseas. For this reason the name Regalii, a play on the Spanish word regalo, was chosen.