Littio Analysis: $4M Raised
What is Littio?
Littio provides a global account for holding, moving, and spending value in USD, EUR, and COP through digital assets. The company states that it does not provide financial services or take deposits, and that its operations use USDC, EURC, and COPM rather than fiat foreign exchange. Its product set centers on cross-border transfers, card spending, and account balances for people receiving money internationally.
Location
Bogotá, Colombia
Employees
11-50
Founded
2021
Product Features & Capabilities
- USD account, Mastercard international card, receive payments and transfers in USD, store USD without limits, transfer USD to local banks in multiple countries, earn rewards on US Treasury bonds, yield-bearing savings pots backed by U.S. Treasury Bills, use of USDC for stable savings.
Pricing
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Littio Account:
- $0 monthly maintenance fee
- $2.99 fee for receiving or transferring funds to/from U.S. banks
- $0 fee for local bank withdrawals or transfers
- $0 commission on currency exchanges
- Up to 9% annual rewards on U.S. Treasury Bills
-
Littio Card:
- $0 monthly management fee
- $0 commissions for national purchases in COP
- $0 commissions for international purchases in USD, EUR, or MXN
- $0 for activating a virtual card
- $0 for requesting a physical card
- $3 USD for additional unspecified services
How much Littio raised
1 - $4,000,000
January 18, 2022Lead Investor: 166 2nd Financial Services, OrangeDAO, Circle Ventures, Global Founders Capital, koyamaki, JAM Fund, and others.
Who are the founders of Littio
Investors
- Y Combinator
- Alphabet Angels
- Goodwater Capital
- Taisu Ventures
- 166 2nd Financial Services
- Adam Neumann
- OrangeDAO
- Circle Ventures
- Global Founders Capital
- koyamaki
- JAM Fund
Market Focus
Littio primarily focuses on the digital banking industry, offering solutions for financial management and international transactions, particularly targeting individuals and businesses in Latin America.
Competitors Overview
Littio's main competitors in the digital banking and financial services market include:
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Airtm: This platform allows users to protect their money in digital dollars and facilitates fast, borderless transactions at real exchange rates. It is particularly advantageous for users needing to convert e-wallet funds to cash and offers a regulated environment in the U.S.
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Sila: An end-to-end payment platform recognized for its Banking-as-a-Service model, offering a developer-friendly payment API for fintech applications. Sila's strengths lie in its scalability and security for money transfers, making it suitable for financial products and Web3 applications.
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Zulu: A digital wallet that enables users to buy, send, and receive money quickly, focusing on protecting users from currency devaluation. Its simplicity and real-time updates are key features.
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Masterpass: A digital wallet service by Mastercard that simplifies online shopping by securely storing payment and shipping information. Its established reputation for security is a significant advantage.
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Cash App: A mobile application that allows users to send and receive payments easily, buy Bitcoin, and manage finances without needing a bank account. Its user-friendly interface and advanced security features make it a strong competitor.
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RappiCard: Offers prepaid and credit card solutions for consumer online payments, backed by partnerships with notable investors like Davivienda and Bancolombia, providing it with a competitive edge.
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tuplus: Provides payment card solutions for individuals and is currently unfunded, which may limit its market presence compared to Littio.
Each competitor has unique features that may appeal to different user needs, such as Airtm's focus on digital dollars and cross-border transactions, Sila's developer-friendly API, and Nuggets' emphasis on identity verification for secure transactions.
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