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Philly startup eyes 51 million Hispanics for free, instant mobile-money transfers to family abroad

A Wharton School MBA is working with a University of Pennsylvania team on a local startup that aims to make transferring money overseas more efficient, reports el-emergente.com

Edrizio De La Cruz, a recent MBA graduate from The Wharton School of Business at the University of Pennsylvania, founded Regalii and leads the UPenn team working on it. For Edrizio, It’s a personal mission. "I grew up in the Dominican Republic," Says Edrizio, "and immigrated to New York's Washington Heights neighborhood, which was probably 110 percent Dominican. But I went to high school in Queens, where I used to play basketball with Mexicans, Puerto Ricans, Colombians and Salvadorians. I quickly assimilated to each subculture. But my social circle was pretty homogeneous. Almost everyone around me was an immigrant. So I assumed that only immigrants sent money or remained connected to family in Latin America."

Original source: el-emergente.com
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