Yes. Another prepaid card company called NetSpend filed to IPO this year too. The original founders of NetSpend, Roy and Bertrand Sosa, are hispanic immigrants and pioneered the prepaid model before GreenDot after recognizing a gap in the industry. As the story goes, they created NetSpend with only $750 in their apartment living room.
They later left NetSpend to found MPOWER Group in 2007. Our company was acquired by one of the MPOWER companies this year, and we couldn't be happier about the leadership and long-term vision here. The Sosa brothers are extremely genuine people. This time they're taking a closer look at banking and underserved markets, and it's a great time for the right kind of innovation in this industry if you ask me.
Last ~2 years have been spent building out product and a multinational infrastructure, I think you'll start hearing more about MPOWER in the near future as they ramp up marketing and social media efforts here in the States.
They later left NetSpend to found MPOWER Group in 2007. Our company was acquired by one of the MPOWER companies this year, and we couldn't be happier about the leadership and long-term vision here. The Sosa brothers are extremely genuine people. This time they're taking a closer look at banking and underserved markets, and it's a great time for the right kind of innovation in this industry if you ask me.
Last ~2 years have been spent building out product and a multinational infrastructure, I think you'll start hearing more about MPOWER in the near future as they ramp up marketing and social media efforts here in the States.
http://www.mpowerlabs.com http://www.mangomoney.com http://www.revworldwide.com http://www.yapsend.com