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PAGO46 presents at Plug and Play Technology Ventures “Top 20 of 2020” Event

SAN DIEGO — PAGO46 announced that Garland Wong, chief executive officer,  presented at Plug and Play Technology Ventures “Top 20 of 2020” event on Thursday April 16th. Mr. Wong presented the company vision and achievements throughout 2019 to an audience of 300 investors and corporations. 

Plug and Play, a Silicon Valley venture fund and corporate innovation platform, with over $6 billion raised in venture funding hosted the exclusive conference selecting 20 of their best portfolio companies for 2020. PAGO46 was the only company selected from Latin America, showcasing its unique business model and technology platform for emerging markets. 

The event, which was exclusive to investors “provided an opportunity to discover and connect with some of the leading venture capital funds across the world” Mr. Wong said.

About PAGO46

PAGO46’s mission is to revolutionize payments across emerging markets by making them more convenient and beneficial. The company launched its product in 2018 to solve a simple problem: how can you pay with cash for an online purchase? Over 2 years later, the company service is available in Argentina, Chile, and Mexico, processing payments for some of the leading technology companies in Latin America. By changing how people pay for online goods and services, PAGO46 is a platform that provides opportunities and opens up possibilities for the unbanked population.

Find your Forrest and Lt. Dan

As we go through our second week of Coronavirus in our markets, we find our core value of “finding your Forrest and Lt. Dan” more important than ever. At P46, we are revolutionizing cash payments by making them more beneficial and convenient for consumers and merchants. Companies and startups are built by people, and we believe people at P46 are what is going to make a difference for us to succeed. 

This week, as we navigate through Coronavirus, we reminded our team of our “Find your Forrest and Lt. Dan” core value. What do we mean by this value? If you remember the movie Forrest Gump, you surely remember that time when Hurricane Carmen came and posed a significant challenge to the entire shrimp industry. Both Forrest and Lt. Dan were caught in this massive storm in the middle of the sea as they were trying to keep their business afloat. Long story short, the hurricane eventually passed, destroying most of the boats it encountered at the dock, while Forrest and Lt. Dan were able to navigate the storm and continue providing shrimps to the market, eventually creating Bubba Gump Shrimp Co.

Just like Forrest and Lt. Dan; we are navigating this storm with a disciplined focus on our execution, having a clear mission, and continue providing service to our merchants leveraging our unique technology and platform. Even in chaos you may find opportunity. All it requires is a little bit of craziness and controlling your fear like Lt. Dan, and a master pilot like Forrest to go through it, being optimistic and believing in your skills and team.   

To other startups and companies that are out there in the sea, remember the opportunity lies ahead of this storm. There’s plenty of shrimp to catch, challenge yourself, your team, to find your Forrest & Lt. Dan that will get you through Coronavirus.

Here’s a little piece of video to inspire you

Martian Mode

I am a serial entrepreneur.  I have had the privilege of starting companies in every mega region in the world: India, China, Africa, Europe, USA, and now, South America.  Some successful and some not so successful, but every startup a learning lesson.  

One thing I love about startups, is that they start with an idea and grow from there.  My wife likes to say I like to see something grow from nothing to something. I love to mentor people and the next generation of entrepreneurs.  The experience I have gained helps me influence the culture of my latest startup PAGO46.  At P46, we want to revolutionize cash payments by making them more beneficial and convenient for consumers and merchants. We are on a mission and are firm believers that our culture and people are what is going to make a difference for us to succeed.

Speaking of mission and culture, we have this saying called “Martian Mode”.  If anyone of you have seen the movie The Martian starring Matt Damon, a startup is likened to what Matt Damon faced while on Mars.  Now, I don’t want to reveal too much of the movie for those who have not seen it, but basically Matt Damon is stranded on Mars and fights for his very survival. He doesn’t have time to feel sorry for himself, he can either give up or get to work. 

Just like the Martian; at P46 whether in business meetings, product sprints, fundraising presentations, as issues become more complex with multiple variables affecting a decision and outcome, we circle back to this notion of “Martian Mode”. In a nutshell is focus on what you can control and solve one problem at a time; we can just solve one problem at a time.  

One of our core culture attributes is very much like Matt Damon stranded on Mars. You start with a mission, solving a big consumer problem that typically might involve disrupting an industry. As the journey progresses you can either let your brain trick you, as you start dealing with multiple forces at play such as lack of resources, competitors, and the cards stacking up against you; or you can enter the “Martian Mode”: focus on what you can control, do the math, and get to work. 

So to our community of users, Merchants, Customers, and Partners, I can promise you we are using our Martian Mode to solve your problems. As Mark Watney, the Martian, said “That’s all it is. You just begin. You do the math. You solve one problem and you solve the next one, and then the next. And If you solve enough problems, you get to come home.”  This is one of the rules we follow every day to bring us closer to our mission; we want to make a difference because you are very important to us. 

PAGO46 Announces Newest Round of Investment funding

PAGO46, the first on-demand cash collection network, announced a new round in seed funding. The round was led by Scale Capital and later joined by Plug and Play Ventures. 

Having grown its customer base with companies like Netflix, Movistar, and Rappi, PAGO46 is revolutionizing payments in emerging countries by making it more convenient and beneficial. PAGO46 will use the capital to expand their operations into other markets. 

PAGO46 addresses a deeply rooted pain point present in Latin America, which is a lack of credit and debit card usage. In the Latin American region, more than 50% of the people are unbanked and prefer to pay with cash. In fact, according to Martin Mazza, the company COO, 85% of transactions in Chile are completed using only cash. This lack of credit card usage makes completing payments online essentially impossible. 

PAGO46’s three-sided marketplace provides the following benefits. For consumers, a convenient way to pay with cash anytime, anywhere. For merchants, it helps open up an underserved market by allowing them to offer cash as a payment method. Lastly, it allows its gig economy participants to make money on-demand, using nothing more than their smartphone. 

Currently, PAGO46 is operating in Chile with the largest and most advanced cash collection network. PAGO46 sets itself apart from competitors by providing on-demand cash collection networks as well as traditional fixed cash collection points. Recently, PAGO46 has launched in Argentina and with this investment, expects to expand to other countries in the region. 

“PAGO46 wants to revolutionize how people pay with cash online by making it more convenient and beneficial. With Latin America’s first on-demand cash collection network, we offer convenience to consumers and benefits to our merchants and user-partners. Thanks in part to Plug and Play Ventures’ investment, PAGO46 has added marquee merchants to its customer base and expanded operations to Argentina. We plan to continue our expansion plans by launching more countries in the Latin American region in the coming quarters and continue growing our service offerings by leveraging innovative technology.” 

says Garland Wong CEO and Cofounder of PAGO46. 

“We are happy to see the significant evolution and growth of PAGO46 since our first investment in 2016. This round and the addition of new investors such as Plug & Play and Vulcano demonstrates the excellent prospects of PAGO46 as the company drives its international expansion” 

says Oliver Alexander Flögel, Managing Partner at Scale Capital. 

“At Plug and Play we are excited about the impact PAGO46 can have on markets like Chile, Argentina, Peru and other countries that do not completely rely on plastic to complete transactions. The same way Uber forever transformed transportation, PAGO46 is revolutionizing the way payments are made online. What we love about this company is not only the amazing team behind it but also the vision of leveraging the gig economy” 

says Eugenio Gonzalez, Senior Associate at Plug and Play Ventures. 

About PAGO46: PAGO46 is the first on-demand cash collection network that allows consumers and businesses to pay with cash for products and services. Their three-sided marketplace connects consumers, agents, and merchants together in a patent-pending real-time platform that facilitates paying with cash. They also collect merchant payment fees from merchants like Paypal and share revenue with the agents like Uber. https://www.pago46.com 

About Scale Capital: Scale Capital is a stage agnostic, operational intensive private investment and management firm focused on the converged telecom, media, and technology sector. https://scale.capital

About Plug and Play Ventures: Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 300 corporate partners, we have created the ultimate startup ecosystem including accelerator programs, corporate innovation services, and an in-house VC arm. Since inception in 2006, companies in our ecosystem have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, and many others. For more information, visit https://www.plugandplaytechcenter.com