Moneypool, Mexico’s First Regulated Wallet, Wins Shark Tank Deal

Moneypool, the first digital wallet regulated as an Electronic Payment Fund Institution (IFPE) in Mexico, announced it has secured an investment from Karla Berman during its appearance on the television program Shark Tank México. With this capital, Moneypool becomes the first regulated digital wallet to receive investment on the show.

Moneypool, an application entirely focused on facilitating group collections, was founded by Nacho Álvarez, CEO, and Gerardo Acuña, CTO, to simplify the process of gathering funds for social events, group gifts, and other shared expenses.

“The person who organizes the coperacha (group collection) is the social glue of our culture. Moneypool exists so that person never again gets frustrated collecting the money,” said Álvarez. “We want that to stop being a barrier to socializing.”

Since its launch, the app has grown organically to 160,000 users and has processed hundreds of thousands of group collections.