Denarii Cash

Technology
Cohort 1 2019
Alumni

Accelerator

Denarii Cash

Technology
Cohort 1 2019
Alumni

What They Do

Denarii Cash is solving a human problem, it enables money transfers using a mobile app to help overseas workers to send money back home using inter-bank mid exchange rate then have a small commission per transaction. Denarii Cash is initially focusing on the Filipino Community ($10 Billion USD) as Addressable Market since DC is already integrated to more than 10,000 Cashpoint Partners and Banks in the Philippines. They plan for immediate expansion by personalizing the product to the South Asian Market living in the UAE and Saudi Arabia, with an $81 Billion USD Serviceable Market.

from UAE

About the founder

Denarii Cash was founded by Jon Edward Santillan, a migrant worker in the UAE for the last 14 years with a previous experience building consumer technology products for companies such as Etihad, Tajawal, and Abu Dhabi Media Company, Technology Consultant Walfrido Perez and Serial Entrepreneur Denver Chua.

As Migrant workers between their native country and the UAE, they had personal experience of the “pain of sending money back home” due to bank and house exchange charges on the amounts they needed to convert from Dirhams to Philippine Pesos and vice versa. “Other alternative options charge us up to 9% of the money each time I moved it.” According to Jon Santillan

Testimonials from this Member

Jon Santillan, Co-founder

”

To all aspiring entrepreneurs, innovators and home-grown startups like us, I believe MBRIF is a good program to have, especially if you are in a startup stage building up your company. It gives you an overall picture helping you achieve things you would like to do in your company and to have clarity of the things that you are doing. The difference between MBRIF and other accelerators in the country is that MBRIF focuses on home grown startups. We need more institutions that mold and shape home grown startups with UAE based founders to contribute to the overall scene.

”

It was really a great experience joining MBRIF. When we first came here, we already knew what we wanted. However, MBRIF gave us the strategy in place to solidify our hypothesis and assumptions which allowed us to grow. Things such as market strategy, value proposition strategy and opening a new market, those are the factors that we believe gave us more benefits when we joined MBRIF. This allowed us to grow tremendously over the past couple of months and it’s a very good experience overall.