OKY
OKY is a Miami-based fintech whose mobile app lets US immigrants send prepaid digital vouchers—groceries, meals, gas, health items, gifts, and bill payments—to family members in 15 Latin American countries via WhatsApp or SMS, with an adjacent B2B platform serving 200+ corporate incentive clients.
- Company typePrivate
- Founded2020
- HeadquartersMiami, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What OKY does
OKY, operated by Merkado Services, LLC, is a Miami-headquartered fintech that runs a mobile-first digital voucher platform connecting US immigrants with family members across 15 Latin American countries. The OKY App lets senders in the United States purchase prepaid digital vouchers for groceries, fast food, gas, health services, bill payments, mobile recharges, and gifts; vouchers are delivered instantly to recipients via WhatsApp or SMS and redeemed at a network of 1,000+ partner stores. A monthly sending cap of $2,000 per user and tiered shipping fees of $1.50/$3.50/$5.50 (under $20, $20–$50, and over $50) define the consumer monetization mechanics, with payment supported via PayPal, credit/debit cards, and cash deposits at authorized centers. The recipient experience requires no app download, which the company positions as the primary friction-reduction feature against traditional remittance.
OKY Business extends the same voucher infrastructure into a B2B corporate incentives module, serving 200+ companies that deliver digital gift cards, promotional codes, and OKY balance to employees and customers across 14 Latin American countries. Enterprise clients access the platform via a self-management web portal or REST API, with real-time reporting and customizable portals; the company reports 1M+ prizes delivered annually and 100K+ employees receiving rewards through the platform. The OKY Shops sub-program recruits US-based merchants serving Latino communities to accept voucher redemptions, while premios.okyapp.com functions as a dedicated redemption sub-brand.
Revenue is generated through per-transaction consumer fees and B2B platform/transaction economics, with operations supported by 11–50 employees across headquarters in Brickell (Miami) and an operations office in Key Biscayne. Cumulative funding since 2019 totals roughly $11.7M across five disclosed rounds, including a $5.2M raise in December 2022 and a $2.4M round from Invariantes Fund in December 2023. The company is founder-led, with CEO Victor Unda, COO Alejandro Mirón, CCO Estuardo Figueroa, and CFO Santiago Rossi as co-founders, supported by CTO Victor Perez.
OKY firmographics
Firmographics- Name
- OKY
- Legal name
- Merkado Services, LLC
- Website
- https://okyapp.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- OKY is a Miami-based fintech whose mobile app lets US immigrants send prepaid digital vouchers—groceries, meals, gas, health items, gifts, and bill payments—to family members in 15 Latin American countries via WhatsApp or SMS, with an adjacent B2B platform serving 200+ corporate incentive clients.
- Ownership category
- akta.pro rank
OKY industry classification
Industry- Product category
- Cross-Border Digital Voucher Platform
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industry
- Digital Gift Cards, Vouchers & Stored-Value (Crypto) (FSADAIAN)
Keywords
Where OKY is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
OKY business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Voucher Transaction Fees: OKY charges shipping/transaction fees on voucher amounts sent by users. Fee tiers: $1.50 for vouchers under $20, $3.50 for vouchers $20-$50, and $5.50 for vouchers over $50. Monthly sending limit of $2,000 per user.
- Corporate Incentives Platform: OKY Business provides a B2B platform for companies to send employee rewards and customer promotions, with customizable portals and real-time reporting. Revenue likely derived from platform fees or transaction margins on corporate voucher distributions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Voucher Shipping Fees |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
OKY product offering
Product offeringCore offering
OKY operates a mobile-first digital voucher platform that enables immigrants in the United States to send prepaid vouchers (vales prepagados) for groceries, fast food, gas, health products, bill payments, and gifts to family members in 15 Latin American countries. Vouchers are delivered instantly via WhatsApp or SMS and redeemed at a network of 1,000+ partner stores. The company also offers OKY Business, a B2B corporate incentives and employee rewards platform with a self-service web portal and REST APIs serving companies across 14 Latin American countries.
Product overview
OKY is a Miami-based fintech company operating a multi-sided digital voucher platform. The core product is the OKY App, a mobile application that lets users in the USA send prepaid digital vouchers (vales) for groceries, fast food, gasoline, health products, and other goods to recipients in 15 Latin American countries, who redeem them at partner stores via WhatsApp or SMS. OKY Business is a corporate incentives module that allows companies to send digital gift cards, promotional codes, and OKY balance to employees and customers across Latin America through a self-management portal with real-time reporting and REST API integration. OKY Shops is a USA-based merchant partner network where Latin American businesses join to accept voucher redemptions and access international customers. All products are operated by Merkado Services LLC and share the same voucher infrastructure, brand network, and payment rails.
Differentiator
Problem solved
Functional benefit
Brands
- OKY Business: Corporate incentive and rewards platform for businesses in Latin America and USA, offering digital gift cards, promotional codes, and balance management for employee and customer rewards.
Products and services
- OKY App A mobile application for individual users in the USA to send prepaid digital vouchers (vales) for groceries, fast food, gas, health products, bill payments, and gifts to family members in 15 Latin American countries, who redeem them at OKY partner stores via WhatsApp or SMS.
- OKY Business A B2B corporate incentives and employee rewards platform that enables companies to distribute digital gift cards, promotional codes, and OKY balance to employees and customers across Latin America, with a self-management web portal, real-time reporting, and REST API integration.
- OKY Shops A USA-based merchant partner network program where local retail stores (Latin American grocery stores, restaurants) join OKY to accept voucher redemptions, gaining access to new customers and the ability to sell international products.
- OKY Premios A redemption portal for OKY Business clients and voucher recipients to access and manage digital rewards and prizes distributed through the platform.
Quantifiable outcome
- Vouchers arrive instantly and can be redeemed at partner stores within 6 months
- +2 more outcomes
Companies that use OKY
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles2 records
OKY technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
OKY partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Various Retail Store PartnerscoreOKY has established a network of 1000+ partner stores across 15 countries where recipients can redeem digital vouchers. These include grocery stores, fast food restaurants, gas stations, health service providers, and general retailers. Store partners gain additional customers and the ability to sell international products.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
OKY competitors and assessment
Company assessmentDirect peers
- Snappy: Corporate gifting and rewards platform with curated gift catalog and enterprise integrations. Targets the same enterprise B2B use cases as OKY Business for employee recognition and customer incentives.
- Taptap Send: Mobile-first cross-border remittance app focused on immigrant corridors in Africa, Asia, and LATAM. Similar product-led growth motion targeting the same diaspora sender persona and using mobile-native UX optimized for recipients without bank accounts.
- Tremendous: Global corporate incentives and rewards platform serving enterprise and SMB clients with API-driven distribution across 200+ countries. Overlaps directly with OKY Business for cross-border employee rewards and customer promotions.
- Pangea Money Transfer: US immigrant-focused mobile remittance with deep Latin American corridor coverage. Targets the same US-based immigrant senders with a similarly mobile-first product experience.
- Tango Card (Blackhawk Network): Corporate incentives and digital gift card platform with global reward catalog and developer APIs. Direct competitor to OKY Business for enterprise rewards distribution across multiple countries.
- Rybbon: Digital gift card and rewards distribution platform with developer APIs for enterprise incentive and market research use cases. Direct competitor to OKY Business on the B2B rewards and incentives layer.
Broad incumbents
- WorldRemit: Global digital remittance platform operating in 130+ countries with mobile wallet and cash pickup options. Competes for the same diaspora senders through a broader corridor footprint than OKY currently offers.
- Remitly: Largest US-headquartered digital remittance platform with strong US→LATAM and US→Asia corridors. Competes for the same US immigrant senders with a cash-transfer model that OKY's voucher product differentiates against.
- Mercado Pago: LATAM digital wallet and payment platform from Mercado Libre, dominant across Argentina, Brazil, Mexico, and other core OKY destination countries. Broad incumbent in cross-border digital payments serving the same recipient base.
- Xoom (PayPal): PayPal-owned digital remittance service with strong US→LATAM corridor presence and bank-grade trust. Broader incumbent in cross-border payments with similar target senders but a cash-payout rather than voucher model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
OKY social profiles
Digital presenceOKY financial estimates
Financial estimateRevenue estimate
Valuation estimate
OKY leadership team
Management profileNumber of profiles
Profiles1 record
OKY funding detail
Funding detailFunding overview
Funding rounds5 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OKY M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OKY
What does OKY do?
OKY operates a mobile-first digital voucher platform that enables immigrants in the United States to send prepaid vouchers (vales prepagados) for groceries, fast food, gas, health products, bill payments, and gifts to family members in 15 Latin American countries. Vouchers are delivered instantly via WhatsApp or SMS and redeemed at a network of 1,000+ partner stores. The company also offers OKY Business, a B2B corporate incentives and employee rewards platform with a self-service web portal and REST APIs serving companies across 14 Latin American countries.
Is OKY a public or private company?
OKY is a private company. It is classified as venture growth investor backed and is currently operating.
When was OKY founded?
OKY was founded in 2020. It employs 11 to 50 people.
Where is OKY based?
OKY is headquartered in Miami, United States, in the North America region.
How does OKY make money?
Two revenue lines are on record. Voucher Transaction Fees are the primary driver. The others are corporate Incentives Platform.
Who are OKY's main competitors?
Direct peers on record are Snappy, Taptap Send, Tremendous, Pangea Money Transfer, Tango Card (Blackhawk Network) and Rybbon. Broad incumbents are WorldRemit, Remitly, Mercado Pago and Xoom (PayPal).
Does OKY have an API?
Yes. OKY Business offers REST APIs for client integration, enabling companies to connect their systems to OKY Business services. The portal is accessible via a web portal or through API integration.
What industry is OKY in?
OKY's product category is Cross-Border Digital Voucher Platform. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of FSADAIAN, Digital Gift Cards, Vouchers & Stored-Value (Crypto).