Enramex
Enramex is a U.S.-licensed money transmitter founded in 1998 that processes cross-border remittances from the United States to Mexico, Central America, South America, and the Dominican Republic through a network of 20,000+ payment points, serving Spanish-speaking immigrant senders via authorized agents.
- Company typePrivate
- Founded1998
- HeadquartersWheat Ridge, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Enramex does
Enramex, Inc. is a U.S.-registered money transfer company founded in January 1998 in Denver, Colorado and currently headquartered at 4601 Wadsworth Blvd., Wheat Ridge, Colorado. The company operates as a licensed Money Transmitter in 18 U.S. states and processes cross-border remittances from the United States to Mexico, Central America, South America, and the Dominican Republic. Its core product is a money transfer service delivered through a dual-channel pay-out infrastructure: a retail payment network integrated with major Mexican chains (FAMSA, BANCOPPEL, ELEKTRA, SORIANA, Chedraui) and a bank-deposit rail connected to tier-1 Mexican banks (Bancomer/BBVA, Banorte, Santander Serfin, Scotiabank Inverlat) and regional institutions across Central and South America, totaling more than 20,000 payment points operating 365 days a year.
The company runs an agent-driven distribution model on the U.S. send side, with a notable concentration of authorized agents in Texas (35+ listed locations) and ongoing recruitment of Regional Sales Supervisors to maintain and expand the agent network. Its technology stack consists of automated AML transaction monitoring systems and compliance infrastructure aligned with OFAC, the Bank Secrecy Act, the USA PATRIOT Act, FinCEN SAR/CTR reporting, and an internal KYC program; no public API, SDK, or consumer mobile app is offered.
Enramex generates revenue through two primary streams: per-transaction service fees and currency exchange spreads on money transfers, with the FX spread captured between the rate offered to senders and the rate received. The customer base is a long-tail of individual Spanish-speaking immigrant senders — described by the company as hardworking people who send money to family in their home countries — with pricing set per transaction and disclosed on the receipt rather than via published rate cards. Marketing is conducted through the company website (English and Spanish), a Facebook community page, and seasonal raffles and promotions tied to Mother's Day and Christmas.
Enramex firmographics
Firmographics- Name
- Enramex
- Legal name
- Enramex, Inc.
- Website
- https://enramex.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Enramex is a U.S.-licensed money transmitter founded in 1998 that processes cross-border remittances from the United States to Mexico, Central America, South America, and the Dominican Republic through a network of 20,000+ payment points, serving Spanish-speaking immigrant senders via authorized agents.
- Ownership category
- akta.pro rank
Enramex industry classification
Industry- Product category
- Remittance and Cross-Border Money Transfer Services
- NAICS
- Miscellaneous Intermediation (523910)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
Keywords
Where Enramex is headquartered
LocationHeadquarters
- HQ city
- Wheat Ridge
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Enramex business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Money Transfer Fees: Enramex charges service fees for money transfer transactions. The fee structure is based on transaction amount and destination.
- Currency Exchange Spread: Enramex receives a currency exchange rate for money transfer services. The difference between the exchange rate offered to the sender and the rate received by Enramex represents revenue. The recipient receives the foreign currency amount specified on the receipt.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard money transfer pricing |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels3 records
Enramex product offering
Product offeringCore offering
ENRAMEX, Inc. provides cross-border money transfer and remittance services from the United States to Mexico, Central America, South America, and the Dominican Republic. Senders initiate transfers through Enramex's authorized agents in 18 U.S. states, and beneficiaries receive funds either as cash payouts at more than 20,000 partner retail locations and payment agents or as direct deposits into bank accounts at partner financial institutions. The service runs 365 days a year with extended hours and is delivered in English and Spanish.
Product overview
Enramex is a money transfer company offering fast and secure transfers from the United States to Mexico, Central/South America, and the Dominican Republic. The core offering is the Money Transfer Service, which delivers funds through a dual-channel system: a retail payment network of over 20,000 partner locations including FAMSA, BANCOPPEL, ELEKTRA, Soriana, Chedraui, Bansefi, and Telegrafos offices; and direct bank deposits to accounts at major institutions like Bancomer, Banorte, Santander Serfin, and Scotiabank Inverlat. The company also operates an Agent Program allowing third-party agents to join their network. All services are delivered with fraud prevention, compliance with AML regulations, and customer support in both English and Spanish.
Differentiator
Problem solved
Functional benefit
Products and services
- Money Transfer Service Cross-border remittance service enabling U.S.-based senders (primarily Spanish-speaking immigrants) to transfer money to beneficiaries in Mexico, Central America, South America, and the Dominican Republic through more than 20,000 payment points, with payouts available 365 days a year.
- Retail Store Payment Network (Payout Service) Cash payout delivery of remittances through partner retail chains in Mexico and Central/South America, including FAMSA, BANCOPPEL, ELEKTRA, SORIANA, Chedraui, Bansefi, and Telegrafos offices, with extended operating hours (typically 8am to 10pm), 365 days a year.
- Bank Deposit Service Direct bank-deposit delivery of remittances to beneficiary accounts at Bancomer, Banorte, Santander Serfin, and Scotiabank Inverlat in Mexico, and partner banks in Central/South America including Banco Banrural, Banco CitiBank (Banco Cuscatlan), Banco de Occidente, Banco GyT, Banco Reformador, Banco Industrial, and Banco Azteca.
- Agent / Become an Agent Program Partnership program that allows third-party retailers and agents to join Enramex's money transfer network on competitive compensation plans tied to client growth, including recruitment of Regional Sales Supervisors to manage the agent network.
Quantifiable outcome
- More than 20,000 payment locations across Latin America
- +1 more outcomes
Companies that use Enramex
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles2 records
Enramex technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Enramex partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core.
- FAMSAcoreMajor retail chain partner in Mexico where beneficiaries can receive money transfer payments. FAMSA stores offer extended hours (8am to 10pm) and operate 365 days a year.
- BANCOPPELcoreMajor retail chain partner in Mexico providing money transfer payment services with extended operating hours.
- ELEKTRAcoreMajor retail chain partner in Mexico offering money transfer payment collection services.
- SORIANAcoreMajor retail chain partner in Mexico providing money transfer payment services with extensive coverage and operating hours.
- Bancomer (BBVA)coreMexican banking institution for direct beneficiary account deposits.
- BanortecoreMexican banking institution for direct beneficiary account deposits.
- Santander SerfincoreMexican banking institution for direct beneficiary account deposits.
- Scotiabank InverlatcoreMexican banking institution for direct beneficiary account deposits.
- Banco AztecacoreMajor Central American banking partner for money transfer payments in Guatemala and other countries.
- Banco CitiBank (Banco Cuscatlan)coreInternational banking partner providing money transfer payment services across Central America.
- ChedrauicoreMexican retail chain partner for money transfer payment services.
- BanseficoreMexican banking network partner for money transfer payment services.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Enramex competitors and assessment
Company assessmentDirect peers
- MoneyGram: MoneyGram is one of the two dominant US-headquartered cross-border remittance providers with a global payout network, including deep Mexican bank and retail partnerships. Enramex competes head-to-head with MoneyGram in the US-to-Latin America corridor, sharing the same regulatory MSB framework and agent-led distribution model.
- Western Union: Western Union is the largest traditional US-based consumer remittance company with the broadest global payout network and most comprehensive US state licensing. Enramex competes directly with Western Union in US-to-Mexico and Central America corridors, particularly via cash pickup and bank deposit rails.
- Remitly: Remitly is a digital-first US remittance company whose largest corridor is US-to-Mexico and Latin America. It targets the same Spanish-speaking immigrant customer base as Enramex but delivers through a mobile app — directly competing for Enramex's sender-side relationships.
- Xoom (PayPal): Xoom is PayPal's digital remittance service, with Mexico and Central America among its largest send corridors. It offers app and web-based transfers to bank accounts, mobile wallets, and cash pickup, competing with Enramex on both digital convenience and Mexican payout coverage.
- Wise: Wise is a digital-first cross-border money transfer platform offering mid-market FX and low fees for US-to-Latin America corridors. While initially P2P/web, it now serves consumers in many of the same corridors as Enramex with greater price transparency.
- Sigue Corporation: Sigue is a US-based, privately held money transfer company with deep roots in the US-to-Mexico and Central America corridors. It operates a smaller, niche remittance network directly comparable to Enramex in scale, customer segment focus, and corridor strategy.
- Intermex Wire Transfers: Intermex is a US-headquartered money transmitter focused on US-to-Latin America and the Caribbean corridors. It serves similar Hispanic immigrant customer segments with bank deposits and cash pickup, making it a direct scale and strategy peer to Enramex.
- ViaAmericas (Viamericas): Viamericas is a US-based remittance specialist with strong Latin America payouts in Mexico, Guatemala, Honduras, El Salvador, Colombia, and the Dominican Republic. Its focus on the same corridor mix and Spanish-speaking customer base makes it a comparable regional peer.
- Dolex Money Transfers: Dolex is a US-licensed money transmitter specializing in US-to-Colombia, Venezuela, Ecuador, and broader Latin America corridors. It directly overlaps with Enramex on Colombian and Andean corridor remittances and similar ethnic-market positioning.
Broad incumbents
- Euronet/Transfast: Euronet Worldwide owns Transfast and operates a global money transfer and payments network with strong Latin American payout coverage via its EFT and ATM/payment processing divisions. As a much larger parent, it competes with Enramex on Mexican and Central American rails while also offering broader payment infrastructure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Enramex social profiles
Digital presenceEnramex compliance and trust
Trust signalCompliance6 records
Enramex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Enramex leadership team
Management profileNumber of profiles
Enramex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Enramex 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 Enramex
What does Enramex do?
ENRAMEX, Inc. provides cross-border money transfer and remittance services from the United States to Mexico, Central America, South America, and the Dominican Republic. Senders initiate transfers through Enramex's authorized agents in 18 U.S. states, and beneficiaries receive funds either as cash payouts at more than 20,000 partner retail locations and payment agents or as direct deposits into bank accounts at partner financial institutions. The service runs 365 days a year with extended hours and is delivered in English and Spanish.
Is Enramex a public or private company?
Enramex is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Enramex founded?
Enramex was founded in 1998. It employs 11 to 50 people.
Where is Enramex based?
Enramex is headquartered in Wheat Ridge, United States, in the North America region.
How does Enramex make money?
Two revenue lines are on record. Money Transfer Fees are the primary driver. The others are currency Exchange Spread.
Who are Enramex's main competitors?
Direct peers on record are MoneyGram, Western Union, Remitly, Xoom (PayPal), Wise, Sigue Corporation, Intermex Wire Transfers, ViaAmericas (Viamericas) and Dolex Money Transfers. Euronet/Transfast is listed as a broad incumbent.
Does Enramex have an API?
No public API is recorded for Enramex.
What industry is Enramex in?
Enramex's product category is Remittance and Cross-Border Money Transfer Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P). Its NAICS code is 523910.