UCF Innovation District company providing easier access to the United States banking system, plans to add 50 jobs in the next year
Orlando, Fla. (June 9, 2022) – Opening a business in a foreign country is never easy and one of the biggest hurdles to international entrepreneurs looking to start a business in the United States is banking.
Today, with the launch of Globalfy, foreign entrepreneurs operating a business registered in the U.S. can open a bank account remotely and within seconds using the new technology.
“Banking is a core resource for every entrepreneur, but without a social security number, most banks won’t do business with you,” says Diego Sampaio, CEO, Globalfy. “We’ve created a platform to help foreign-based entrepreneurs overcome the biggest challenges of operating a small-or medium-sized business in the United States.”
Globalfy is a technology that connects foreign and digital entrepreneurs to select banks through the Globalfy name and platform. All deposits are FDIC insured and includes a global Visa debit card labeled with Globalfy. There are no monthly fees – even international fees – and no minimum deposits required.
To get started, the company must be established within the United States and have an active state registration, EIN and mail address in the country. Then, the entrepreneur and everyone on their account can use just their passport for the application.
Prelaunch, the company had more than 2,000 active users of the service. The majority of customers are coming from Latin America, but the company has started growing its market in Europe and Asia.
“Our research shows that every year there are over 300,000 companies registered by non-residents in the U.S. and the process of open a bank account has always been a challenge for them,” Sampaio says. “That said, we understand we need to be more than just an account number, our goal is to offer guidance, tools and support for their growth.”
Globalfy started operations in 2015 in Orlando to help international companies launch a presence in the United States. At the heart of the company is the ability to provide accounting, tax services, registration, and just basic information.
As the company grew, the company’s owners understood they needed to find a solution to the banking issues facing these companies and spent the last year developing the technology.
Currently, the company has 60 employees with half of those being added in 2022. The company expects to grow to 100 employees by the end of the year, with half of those located in Central Florida.
For more information, please contact:
Globalfy: Diego Sampaio, 407-227-7990, firstname.lastname@example.org
UCF Business Incubation Program: Michael Weiss, UCF Business Incubation Program, 407-408-4297, Michael.Weiss@ucf.edu
or Alan Byrd, Alan Byrd & Associates, 407-415-8470, Alan@ByrdConnections.com
About Globalfy: Globalfy breaks borders for global entrepreneurs helping them to setup, manage and scale their US operations with a one-click solution. Now foreign entrepreneurs can open a business bank account 100% remote, even without SSN or ITIN, with customer service in English, Spanish and Portuguese. Globalfy is a financial technology company and is not a bank. Banking services provided by Blue Ridge Bank N.A; Member FDIC. The Globalfy Visa® Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.For more information, please visit Globalfy.com
About the UCF Business Incubation Program: The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises. Since 1999, this award-winning program has provided vital business development resources resulting in over 300 local startup companies reaching their potential faster and graduating into the community where they continue to grow and positively impact the local economy.
With seven facilities throughout the region, the UCF Business Incubation Program is an economic development partnership between the University of Central Florida, the Corridor, Orange, Osceola, Seminole and Volusia Counties, and the cities of Kissimmee, Orlando and Winter Springs. For the 2017/2018 fiscal years, the activities of these participating firms have helped to sustain more than 6,725 local jobs and have had a cumulative impact of over $725 million on regional GDP and over $1.3 billion on regional sales. During the same period, the program has returned more than $12.00 in state and local taxes for every $1.00 invested in the program. In addition, for every $1.00 of public investment the firms also produced $118 of additional regional GDP and $226 of regional sales. For more information, visit www.incubator.ucf.edu.