Xoom
Our Latino and Multicultural Division started working with Xoom in August 2008. The company, an online global money transfer start-up based in San Francisco backed by venture capitalists Sequoia Capital, New Enterprise Associates, SVB Capital and Fidelity Ventures, tapped the agency to help it grow market share with Mexican consumers. Mexico presents an incredible growth market for Xoom, as it is estimated that Mexicans living in the United States send home more than $19 billion a year.

Launching of partnership with Banamex

Background
Xoom.com is the leading online money transfer company. The San Francisco based start-up is quickly changing the way consumers send money to family and friends by offering low-cost, fast, safe and convenient money transfer services to 42 countries all over the world. Xoom.com allows its costumers to send remittances directly to bank accounts or have the cash available for pick-up at the most important financial institutions in the serviced countries. While the overall money transfer industry is experiencing a slowdown as a result of the current economic climate, Xoom.com continues to grow its services to Latin America, especially in Mexico, Colombia and Brazil.
In May 2010, Xoom.com tapped Mosaico to launch a partnership with Banamex, one of Mexico’s largest banks and a Citibank subsidiary. Mexico is the largest and most profitable remittance market and it represents the biggest growth opportunity for Xoom.com given that $21 billion dollars a year are sent annually to Mexico by more than 11 million Mexicans living in the United States.