Movo
Movo is a company.
Financial History
Movo has raised $28.5M across 3 funding rounds.
Leadership Team
Key people at Movo.
Frequently Asked Questions
How much funding has Movo raised?
Movo has raised $28.5M in total across 3 funding rounds.
Movo is a company.
Movo has raised $28.5M across 3 funding rounds.
Key people at Movo.
Movo has raised $28.5M in total across 3 funding rounds.
Movo has raised $28.5M in total across 3 funding rounds.
Movo's investors include City Light Capital, Shift One, Felipe Villamarin, Justin Mateen, Bond, Founders Fund, General Catalyst, Nazca Ventures, QED Investors, Tiger Global Management, Wollef Ventures, Cornelius Boersch.
MovoCash (operating as MOVO) is a fintech portfolio company building a comprehensive digital payments platform centered on its patented HyperBIN® technology, which enables virtual card payments, P2P transfers, mobile banking, and fraud reduction tools.[2][4] It serves underbanked consumers (targeting 14 million in the US), merchants, and financial institutions by solving high payment fees, credit card fraud (a $32 billion annual issue), and lack of payment tracking through unique virtual card numbers and low-fee digital cash solutions.[2] The company shows growth momentum via crowdfunding campaigns on StartEngine, a $50 million raise target for hyperscaling, 1.2 million interested client emails, 230,000 Instagram followers, and 36,000 Facebook followers, plus strategic partnerships like Carneros Bay.[2][4]
Note: Multiple entities share the "Movo" name, including Movo Investment Group (a UK holding company in head office activities, incorporated 2016)[1], a Spanish micromobility startup[3], and a workforce management platform[5]. This profile focuses on MovoCash, the most prominent fintech player matching investment context.[2][4]
MovoCash emerged from the vision of Eric Solis, its CEO and Co-Founder, a full-stack entrepreneur with over 20 years pioneering digital banking, payments, micro-investing, securities, money transfers, and early distributed ledger tech.[2] The founding team collectively brings 100+ years in fintech, IT, software, payments, and compliance.[2] The idea crystallized around addressing global payment inefficiencies, leading to development of the HyperBIN® ecosystem—a self-contained suite of SaaS and cloud-based tools for digital payments.[2][4] Early traction includes market-proven virtual card tech, a large email subscriber list, social media following, and crowdfunding perks like bonus shares and fee waivers to spark relaunch.[2][4]
MovoCash rides the fintech democratization wave, capitalizing on rising demand for inclusive digital payments amid 14 million underbanked Americans and global mobile payment fee markets.[2] Timing aligns with post-pandemic acceleration in contactless and virtual payments, plus regulatory pushes for fraud prevention and open banking.[2] Market forces like exploding P2P (e.g., Venmo, Cash App) and virtual card adoption favor it, especially HyperBIN®'s edge in fee reduction and security over incumbents.[2][4] It influences the ecosystem by enabling merchants/fintechs to serve underserved segments, fostering partnerships, and proving crowdfunding as a viable path for fintech restarts—potentially reshaping fraud-vulnerable legacy systems.[2]
MovoCash is positioned for hyperscale with its $50M capital raise targeting marketing, ops, and core needs to relaunch amid fintech consolidation.[2] Upcoming trends like AI-driven fraud detection, embedded finance, and global underbanked inclusion (beyond US) will amplify HyperBIN®'s strengths, with social/email assets sparking rapid user acquisition.[2][4] Influence could evolve from niche virtual payments player to full digital banking contender if it secures partnerships and hits crowdfunding goals, ultimately proving low-fee, fraud-proof "digital cash" as the next payment standard—echoing its mission to fix a broken global system.[2]
Key people at Movo.
Movo has raised $28.5M across 3 funding rounds. Most recently, it raised $520K Venture Round in June 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2024 | $520K Venture Round | City Light Capital, Shift One, Felipe Villamarin, Justin Mateen | |
| Feb 1, 2021 | $5.0M Seed | Bond, City Light Capital, Founders Fund, General Catalyst, Nazca Ventures, QED Investors, Tiger Global Management, Wollef Ventures, Cornelius Boersch, Manolo Atala | |
| Apr 1, 2019 | $23.0M Series A | Cathay Innovation, Entrée Capital Ventures, Bernardo Hernandez, Seaya Ventures, Edoardo Bianchi, Felix Ruiz Hernandez |