NEW YORK, April 5, 2016 /PRNewswire/ -- Regalii, a global mobile bill pay API for financial institutions and banks, today announced record quarterly growth as end-customers are now paying more than 153,000 bills monthly, representing 14x growth over the same period in 2015. To accommodate its fast-growing pace and business, Regalii tripled its office space in January, when it moved to its new headquarters in downtown Manhattan. Additionally, the company has averaged one new hire per week, growing the staff to 25 members.
Regalii licenses its API to financial institutions and banks on a white-label basis. These institutions include: Sigue Corp., IDT, Compartamos Bank, Paytoo Bank, Castle Checking (CFSC), La Nacional, Intercambio Express, Davidsfinancial.com, and Sendcashglobal.com among others.
"We always knew the demand for this product was massive," said Regalli Co-Founder and CEO Edrizio de la Cruz, "but even I have been pleasantly surprised by this level of growth. We expect to be at a million transactions per month soon."
On the provider side, the Regalii API covers over 1,000 billers across 11 countries, including India, Philippines, Mexico, and the rest of Latin America. Regalii partners directly with bill providers to provide the fastest and most reliable global bill pay worldwide.
Regalii's white-label software provides millions of people an unprecedented opportunity to take control of their families' finances by allowing financial institutions and bank consumers to pay bills from their cell phones or in-store, from anywhere in the world. Via their API, a consumer in the States can pay her bills in the U.S. and her family's bills in Mexico, all from a mobile device.
The Regalii API works via web, mobile apps, as well as walk-in stores in order to accommodate consumers who aren't as tech savvy. Users can track any recurring bill – utilities, phone bills, tuition, insurance premiums and loan payments – and see live bill balances, due dates and receive reminders and savings tips – all at no extra charge. They can also choose to set up automatic bill pay. Regalii allows users to budget all of their family's finances back home to reduce the inherent risk of family members carrying large amounts of cash.
Regalii is an API that banks and financial institutions use to allow their consumers to pay their family's bills anywhere in the world. The company was launched in 2013 in Y-Combinator, and its investors include Kapor, Maverick, Capricorn, Andreessen Horowitz and Winklevoss capital.