RedPlus Panamá
RedPlus Panamá is a regulated Panama-based financial services firm (operating as Aussie Investment Corp., founded 2013) that provides international remittances to 150+ countries via correspondent networks and foreign currency exchange across 40+ currencies, distributed through seven physical branches in Panama City and digital channels.
- Company typePrivate
- Founded2013
- HeadquartersPanama City, Panama
- Headcount11–50
- GTM typeB2C
- OfferingServices
What RedPlus Panamá does
RedPlus Panamá, legally operating as Aussie Investment Corp., is a Panama-based, privately held financial services company founded in October 2013 that provides international money remittances and foreign currency exchange to individual consumers. Its core offering is international remittance service through the RedPlus App Móvil (iOS/Android) and a web portal (app.gruporedplus.com), processing transfers via ACH and correspondent networks — including MG (MoneyGram), MORE, TRANSNETWORK, and LAFISE — to deliver funds in 150+ countries, with a sample commission of 5.61 USD per transaction and reference exchange rates published on the website. Complementary currency exchange service covers 40+ currencies, with rates streamed live to the website and available at branch counters.
Distribution combines a physical network of seven Panama City branches — Multiplaza Mall (headquarters), Albrook Mall, Paitilla Avenue, and five counters across Tocumen International Airport Terminals 1 and 2 — with digital self-serve channels (iOS/Android app, web portal) and a WhatsApp business channel for transaction initiation and customer service. The company targets three overlapping segments: individual remittance senders (primarily to Colombia and other Latin American destinations), currency exchange customers (tourists, expatriates, local residents), and Panama's foreign community requiring multilingual and regulated financial services.
Revenue is generated via two transaction-fee streams: commission fees on remittances and spreads on currency exchange, with rates and commissions varying by currency, destination, and channel (including a noted differential between Tocumen Airport branches and other locations). The company is regulated by Panama's Superintendencia de Bancos under Acuerdo 004-2018 (remittances), Acuerdo 005-2018 (currency exchange), and AML/CFT guidelines, with compliance also with Ley 81 on data protection. Indicated headcount is 1-10, suggesting a lean operating model that likely relies on outsourced branch staffing.
RedPlus Panamá firmographics
Firmographics- Name
- RedPlus Panamá
- Legal name
- Aussie Investment Corp. (RedPlus Panamá)
- Website
- https://gruporedplus.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- RedPlus Panamá is a regulated Panama-based financial services firm (operating as Aussie Investment Corp., founded 2013) that provides international remittances to 150+ countries via correspondent networks and foreign currency exchange across 40+ currencies, distributed through seven physical branches in Panama City and digital channels.
- Ownership category
- akta.pro rank
RedPlus Panamá industry classification
Industry- Product category
- Remittance and Currency Exchange Services
- akta.pro primary industry
- Consumer P2P International Remittances (FSAGAKAA)
- akta.pro secondary industries
- Consumer Remittances (P2P) (FSAMAIAA), Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK), P2P Transfers & Remittances Platforms (BPAMAFAE)
Keywords
Where RedPlus Panamá is headquartered
LocationHeadquarters
- HQ city
- Panama City
- HQ country
- Panama
- HQ region
- Latin America
Offices9 records
Markets served
RedPlus Panamá business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Remittance Transaction Fees: RedPlus charges commission fees on international money transfers. Sample commission shown as 5.61 USD per transaction. Transfers processed through correspondent networks including ACH.
- Currency Exchange Spread: Revenue generated from the spread between buy and sell rates on currency exchange transactions. Offers exchange on 40+ currencies with rates displayed on website and in branches.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard remittance pricing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
RedPlus Panamá product offering
Product offeringCore offering
RedPlus Panamá provides international remittance services sending money from Panama to over 150 countries through multiple delivery channels (mobile app, web portal, WhatsApp, and 7 physical branches), and currency exchange services across more than 40 currencies. The company operates as a regulated remittance and exchange house under the supervision of the Superintendencia de Bancos de Panamá, serving individual consumers needing cross-border money transfers and foreign currency transactions.
Product overview
RedPlus Panamá operates as a unified financial services platform combining two core offerings: international remittances and currency exchange. The product portfolio centers on the RedPlus mobile app (available on iOS and Android) and a web-based portal for sending money internationally to over 150 countries, supported by a network of 7 physical branch locations. The platform integrates WhatsApp as a communication channel for remittance services and provides a currency exchange service covering more than 40 different currencies. Users can access calculators for estimating transfer commissions and exchange rates, with delivery methods including ACH transfers, mobile transfers, WhatsApp-based transfers, and in-person branch services. The company is regulated by Panama's Superintendent of Banks and operates correspondents including MG, TRANSNETWORK, LAFISE, and MORE for expanded global reach.
Differentiator
Problem solved
Functional benefit
Products and services
- RedPlus App Móvil
Quantifiable outcome
- Transfers processed within less than 24 hours for regular transfers
Companies that use RedPlus Panamá
Customer profileSegments3 records
Ideal customer profiles3 records
RedPlus Panamá technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
RedPlus Panamá partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- MG (MoneyGram)coreMG is one of the correspondent networks used by RedPlus for international remittance services, enabling money transfers to destinations worldwide through their global network.
- MOREcoreMORE is a correspondent partner enabling RedPlus to send and receive remittances as part of their international money transfer network.
- TRANSNETWORKcoreTRANSNETWORK is a correspondent partner providing international remittance connectivity for RedPlus services.
- LAFISEcoreLAFISE is a correspondent network partner enabling RedPlus to expand remittance coverage throughout Latin America and beyond.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
RedPlus Panamá competitors and assessment
Company assessmentDirect peers
- MoneyGram: Global cross-border remittance operator and one of RedPlus's stated correspondent partners; competes in Panama both as RedPlus's wholesale rail provider and as a direct-to-consumer MTO.
- Remitly: Digital-first consumer remittance app targeting Latin American corridors from the US and intra-LatAm, including Panama-origin senders using mobile-first UX.
- Western Union: Largest global consumer remittance network; competes head-on in the Panama outbound corridor with branded agent locations and digital channels.
- Wise: Cross-border payments platform offering mid-market FX and low-fee transfers; competes with RedPlus on transparency of FX and pricing for tech-savvy senders.
- Ria Money Transfer: Large global MTO with broad LatAm agent footprint; directly competes with RedPlus for Panama outbound remittances and FX services.
- Sigue Money Transfer: US-headquartered MTO with strong Latin American focus and agent network; competes with RedPlus in Panama-to-LatAm remittance corridors.
- Xoom (a PayPal service): PayPal-owned digital remittance brand targeting Latin America from mobile/web; competes on speed and digital UX against RedPlus's app and web portal.
Broad incumbents
- BAC Credomatic: Panama's largest commercial bank with retail FX, remittances and digital channels under one brand; competes with RedPlus as an established full-service incumbent.
Regional players
- Global Exchange: Currency exchange operator with a significant airport-counter presence in Latin America; overlaps directly with RedPlus's Tocumen International Airport FX business.
Emerging players
- Intermex Wire Transfer: Latin America-focused MTO with strong US-to-Mexico and intra-LatAm flows; adjacent competitor with partial overlap on Panama corridors.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
RedPlus Panamá social profiles
Digital presenceRedPlus Panamá compliance and trust
Trust signalCompliance4 records
RedPlus Panamá financial estimates
Financial estimateRevenue estimate
Valuation estimate
RedPlus Panamá leadership team
Management profileNumber of profiles
RedPlus Panamá funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RedPlus Panamá 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 RedPlus Panamá
What does RedPlus Panamá do?
RedPlus Panamá provides international remittance services sending money from Panama to over 150 countries through multiple delivery channels (mobile app, web portal, WhatsApp, and 7 physical branches), and currency exchange services across more than 40 currencies. The company operates as a regulated remittance and exchange house under the supervision of the Superintendencia de Bancos de Panamá, serving individual consumers needing cross-border money transfers and foreign currency transactions.
Is RedPlus Panamá a public or private company?
RedPlus Panamá is a private company. It is classified as corporate owned and is currently operating.
When was RedPlus Panamá founded?
RedPlus Panamá was founded in 2013. It employs 11 to 50 people.
Where is RedPlus Panamá based?
RedPlus Panamá is headquartered in Panama City, Panama, in the Latin America region.
How does RedPlus Panamá make money?
Two revenue lines are on record. Remittance Transaction Fees are the primary driver. The others are currency Exchange Spread.
Who are RedPlus Panamá's main competitors?
Direct peers on record are MoneyGram, Remitly, Western Union, Wise, Ria Money Transfer, Sigue Money Transfer and Xoom (a PayPal service). BAC Credomatic is listed as a broad incumbent. Global Exchange is listed as a regional player. Intermex Wire Transfer is listed as an emerging player.
Does RedPlus Panamá have an API?
No public API is recorded for RedPlus Panamá.
What industry is RedPlus Panamá in?
RedPlus Panamá's product category is Remittance and Currency Exchange Services. Its primary akta.pro industry code is FSAGAKAA, Consumer P2P International Remittances, with a secondary code of FSAMAIAA, Consumer Remittances (P2P).