Coba makes it easy for Mexican knowledge workers employed by US companies to earn in US Dollars and seamlessly spend locally in Pesos. On average, a knowledge worker will lose $1,000 per year in hidden ForEx and transfer fees.
Coba is a Y Combinator company in the Summer 2023 batch. Its directory entry describes it as: Dual Currency Accounts For LatAm. The founders listed are Abraham Kuri Vargas (Founder), Eduardo Lopez De Leon (Founder), Carlos Alberto Medellin Gonzalez (Founder) (Y Combinator directory entry, July 20, 2023).
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New accelerator entry · 2023-07-20 · the record
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Coba makes it easy for Mexican knowledge workers employed by US companies to earn in US Dollars and seamlessly spend locally in Pesos. On average, a knowledge worker will lose $1,000 per year in hidden ForEx and transfer fees. In that process, their money will touch at least 3 different accounts adding time and steps along the way. These workers’ require more than simple money movement, they demand a financial solution that addresses their specific needs: banking, saving, spending - all in two currencies. Coba allows its users to not only deposit and save their earnings in a US account, but also access critical financial services at home in Mexico - from a local credit card to integrated bill pay. With Coba, remote workers can live across two currencies... efficiently and effortlessly.
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Example from a real report (our sample on Target): “Target eliminated approximately 1,800 corporate positions, with around 1,000 employees receiving layoff notices and the remainder accounted for by eliminating open roles.” Source: NBC News
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