Caribe Express

What Caribe Express does

Caribe Express is a Dominican Republic-based financial services company that operates as one of the country's leading remittance distribution and currency exchange providers. Founded in 1997 and headquartered in Santo Domingo (with operating presence noted in Santiago), the company operates a network of 240+ physical branches across the Dominican Republic's Metro, North, East, and South zones, plus 500 messengers providing free same-day home delivery of remittances nationwide. The business is licensed and regulated by the Superintendencia de Bancos and the Unidad de Análisis Financiero for AML compliance, and operates as a legal entity "Agente de Cambio y Remesas Caribe Express, S.A."

The company's core service portfolio comprises four product lines: domestic and international remittance distribution (5% fee on national, 6% on international), foreign currency exchange across USD, EUR, GBP, CHF, and CAD, international document courier services via FedEx/DHL/UPS integrations, and bank deposits to Dominican accounts. International remittance flows originate from 30+ agent partnerships including MoneyGram, Western Union (Vigo brand), Ria, Remitly, Xoom (PayPal), Intermex, Viamericas, and IDT, with the US-Dominican Republic corridor as the primary lane. A mobile app (Caribe Express RD) provides 24/7 shipment tracking, exchange rate calculators, and account management, complemented by web-based shipment status inquiry.

The revenue model is transaction-based: per-transaction percentage fees on remittances (5-6% take rate), bid-ask spread on FX, per-shipment fees on courier services, and a fixed RD$200 fee for shipment history certificates. Customer acquisition is direct-to-consumer via the physical branch network and home delivery service, while international origination flows through third-party agent channels. The company sits within the broader Grupo Caribe ecosystem alongside Banco Caribe, Caribe Tours, Hodelpa Hotels, Agente de Cambio La Nacional, and Inmobiliaria Ozama, enabling cross-referrals and an integrated financial-tourism-transit footprint. As of October 2025, Caribe Express entered a strategic alliance with Intermex to enhance US-DR remittance services through combined digital and physical infrastructure.

Name

Caribe Express

Legal name

Caribe Express, S. A.

Website

https://caribeexpress.com.do

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Caribe Express is a Dominican Republic-based financial services company that distributes remittances and exchanges currency through 240+ branches and 500 messengers, serving Dominican recipients of diaspora transfers from the US, Europe, and the Caribbean under Superintendencia de Bancos regulation.

Ownership category

akta.pro rank

Product category

Remittance Services

akta.pro primary industry

Rent-to-Own (RTO) & Lease-to-Own Consumer Financing (FSAKAOAC)

Keywords

• Money transfer services
• Currency exchange
• Remittance distribution
• Bank deposit services
• International document courier

Headquarters

HQ city

Santiago

HQ country

Dominican Republic

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Remittance Transaction Fees: Caribe Express charges commission fees on remittance transactions: 5% for national (intra-DR) shipments and 6% for international shipments. For example, RD$1,000 national shipment costs RD$50 in commission.
2. Currency Exchange Spread: The company buys and sells foreign currencies (USD, EUR, GBP, CHF, CAD) at exchange rates displayed on their website, earning revenue through the spread between buy and sell rates. Current rates: USD 59.00 DOP buy, EUR 66.50 DOP.
3. Document Courier Services: International document shipping services through FedEx, DHL, and UPS partnerships
4. Shipment History Certificate: Historical shipment record certificates issued for RD$200.00 per request

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Caribe Express operates as a Dominican Republic-based financial services company providing domestic and international remittance distribution, foreign currency exchange (USD, EUR, GBP, CHF, CAD), bank deposits to national accounts, and international document courier services through partnerships with FedEx, DHL, and UPS. Services are delivered through a network of over 240 physical branches and 500 home delivery messengers covering the entire Dominican Republic, with same-day remittance availability and a mobile app for 24/7 tracking.

Product overview

Caribe Express operates as a unified financial services platform offering remittance, currency exchange, and logistics services in the Dominican Republic. The core product portfolio consists of domestic and international money transfers, supported by a physical network of over 240 branches and free home delivery service. The platform is complemented by a mobile app (Caribe Express RD) available on iOS and Android, which provides 24/7 access to shipment tracking, calculators, and account management. Additional services include document courier (via FedEx, DHL, UPS), bank deposits, and currency exchange. The company maintains an international agent network enabling cross-border remittances with partners such as MoneyGram, Western Union, Ria, and Remitly.

Differentiator

Problem solved

Functional benefit

Products and services

• Remesas (Remittance Services) Domestic and international money transfer services enabling customers to send and receive funds through an extensive branch network and free home delivery, available same day upon receipt.
• Cambio de Divisas (Currency Exchange)

Quantifiable outcome

• Remittances available same day upon receipt
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered core and supporting.

• IntermexcoreStrategic or Co-development Partner · 28 October 2025Strategic alliance between Intermex and Caribe Express to transform the remittance experience between the United States and the Dominican Republic. The partnership aims to leverage digital infrastructure and market expertise to offer more seamless, secure, and accessible money transfer solutions. Intermex is a US-based remittance company partnering with the Dominican market leader.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorInternational money transfer partner enabling remittance flows from the United States to Dominican Republic through Caribe Express network
• Western UnioncoreChannel Partner/ Reseller/ DistributorVigo brand partner for international remittance transfers from the US to Dominican Republic
• Ria Money TransfercoreChannel Partner/ Reseller/ DistributorInternational money transfer partner for remittance services from US to Dominican Republic
• RemitlycoreChannel Partner/ Reseller/ DistributorDigital remittance partner enabling US to Dominican Republic transfers
• FedExsupportingTechnology or IntegrationInternational document courier service partner for guaranteed document shipping
• DHLsupportingTechnology or IntegrationInternational document courier service partner for document shipping
• UPSsupportingTechnology or IntegrationInternational document courier service partner for document shipping
• XoomsupportingChannel Partner/ Reseller/ DistributorPayPal-owned digital remittance service for US to Dominican transfers
• La Nacional Puerto RicosupportingChannel Partner/ Reseller/ DistributorInternational agent in Puerto Rico for remittance origination to Dominican Republic
• IDT Payment ServicessupportingChannel Partner/ Reseller/ DistributorUS-based payment services partner for remittance transfers
• ViamericassupportingChannel Partner/ Reseller/ DistributorInternational money transfer partner from US to Dominican Republic
• Banco CaribesupportingChannel Partner/ Reseller/ DistributorAssociated bank partner for banking deposits and services. Listed under 'Empresas Asociadas' (Associated Companies)
• Caribe TourssupportingChannel Partner/ Reseller/ DistributorAssociated company and co-location partner. Headquartered in same Plaza Caribe Tours building; operates bus transportation services
• Hodelpa HotelssupportingChannel Partner/ Reseller/ DistributorHotel partner in Punta Cana/Bavaro area for tourism-focused remittance and financial services

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MoneyGram: Global remittance operator with major US-Latin America corridor presence and large agent network. MoneyGram is both a payout partner of Caribe Express and a direct competitor for US-DR remittance transaction volume, making it the closest comparable.
• The Western Union Company: World's largest remittance operator with extensive US-DR corridor presence through its core brand and Vigo. Western Union is both a payout partner (Vigo) and direct competitor for sender-side relationships in the Dominican Republic.
• Ria Money Transfer: Major US-headquartered remittance operator owned by Euronet Worldwide with strong Hispanic corridor presence. Ria is a payout partner of Caribe Express and competes for both sender and payout transactions in the US-DR corridor.
• International Money Express (Intermex): US-based remittance company specializing in US-Latin America corridors including a strong Dominican Republic focus. Intermex is both a direct competitor and the strategic alliance partner announced in October 2025, making it a uniquely intertwined peer.
• Remitly Global: Digital-first remittance platform competing directly in the US-DR corridor with low-fee app-based transfers and direct-to-bank payouts. Remitly is a payout partner and the leading digital disruptor competing for sender-side relationships in the same corridor.
• Xoom (PayPal): PayPal-owned digital remittance service offering app-based transfers to the Dominican Republic with bank deposit and cash pickup options. Xoom is both a payout partner and a direct competitor targeting tech-savvy senders in the same US-DR corridor.
• Viamericas Corporation: US-based remittance operator focused on Latin America corridors including the Dominican Republic. Viamericas is a payout partner of Caribe Express and competes for senders originating from the same US diaspora communities.
• IDT Corporation: US-based payment services company operating the Boss Money remittance brand with significant US-Latin America corridor presence. IDT is both a payout partner and direct competitor for US-DR remittance flows.
• WorldRemit: UK-headquartered digital remittance platform with strong mobile money and bank deposit payout options across Latin America. WorldRemit is a digital-first competitor for US-DR corridor remittances without relying on physical agent payout networks.

Broad incumbents

• BanReservas (Banco de Reservas Dominicano): Dominican Republic's largest state-owned bank, offering remittance services as part of its broader banking and financial services platform. BanReservas competes with Caribe Express for payout transactions through its own national branch network, but operates as a diversified bank rather than a remittance specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/caribeexpressrd
• Instagraminstagram.com/caribeexpressrd
• Xx.com/CaribeExpressRD
• LinkedInlinkedin.com/company/agente-de-cambio-y-remesas-caribe-express

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caribe Express