Incorporated in 1999, Viamericas is a privately held US company. The founding shareholders and sponsors are Joseph Argilagos, Chairman and Paul Dwyer, CEO.

The total project cost is estimated at US$19 million and will be financed by IFC equity proceeds and internally generated funds. The proposed IFC investment is US$6 million in equity.

6.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	0.0
Equity	6.0

* These investment figures are indicative

Company provides services to low income families in 18 countries of Latin America, which includes 3 IDA countries (Honduras, Nicaragua and Bolivia). Viamericas remittance payout network encompasses 32,000 payout locations, which are predominantly located in rural areas. Company’s operational centers are located in Mexico, Colombia and USA.

i. Viamericas enables low cost, expedient, money transfer services to millions of low income families in Latin America. In the ten largest US to LAC remittance corridor countries, the cost of a remittance transfer through Viamericas is up to 40% below the cost of other major providers. A significant number of beneficiaries are in rural areas where remittances serve as the main, if not only, source of income.
ii. Viamericas leverages its payout network to extend the reach of financial services to unbanked populations in LAC for opening and funding of bank accounts, buying pre-paid payment cards, etc.
iii. Viamericas employs more than 70% of its employees in Colombia and Mexico, in areas such as accounting & finance, legal & compliance and technology services and company plans to more than double its staff in these countries over next three years. IFC''s investment will create additional employment opportunities for highly skilled staff in these markets.

i. Equity: Providing access to equity to finance working capital needs for prefunding agents in destination countries and agent network expansion as well as complying with regulatory requirements.
ii. Long-term strategic partner: IFC has the ability to support Viamerica''s expansion by leveraging its extensive relationships in the sector. Viamericas would like to gain access to IFC''s network of terminating partners (banks, MFIs and payment companies). Similarly, these partners would benefit by Viamericas front end international remittance network. The increased credibility by association with IFC''s brand will be an advantage to the Company, as it charters new regulatory environments and attempts to work with IFC''s network of terminating partners.
iii. Global Knowledge/Experience: IFC can offer guidance on Viamericas expansion strategies as the Company looks to scale up operations in other markets. Company will leverage IFC''s global knowledge / experience in the payment sector to help grow its business or enter into new business lines.

Environmental and social risks and impacts in this project are expected to be low, so the project is classified as Category C according to IFC''s environmental and social review procedure.