Cacao

What do they actually do

Cacao is a mobile app (iOS and Android) that lets people in Brazil receive money in US dollars or USDT, hold it in a USD/stablecoin wallet, and instantly convert and withdraw to reais (BRL) via Pix. The company positions itself as “Receive in USD. Withdraw via Pix.” and the apps are live on the App Store and Google Play site, App Store, Play Store, YC profile.

Users get US-style receiving details (ACH/wire/RTP) and a USDT address in-app, so they can take payments from employers, platforms, or wallets and hold USD/USDT to reduce BRL exposure. When they need BRL, they convert in-app and withdraw to any Brazilian bank account using Pix, which the company advertises as near-instant and available 24/7 site, YC launch.

Public pricing shows a 0.9% fee on USD deposits and 0.9% on Pix withdrawals, and the team claims FX that “beats the mid‑market rate by 1–2%.” Wallet-to-wallet crypto transfers are free; the app also supports loading by Pix and other local rails site, YC launch. Cacao states it is a technology platform and that regulated financial services are provided by third parties; it says it does not custody funds or perform regulated activities in Brazil site compliance note.

Near-term, Cacao says a Visa card is “coming soon” (with Apple Pay/Google Pay support) and that it’s pursuing partnerships with payrolls/marketplaces so platforms can pay Brazilians directly into Cacao rails site card section, YC launch.

Who are their target customer(s)

• Brazilian remote employees paid by foreign companies: They face slow, expensive cross‑border transfers and poor FX rates when converting earnings to BRL; they want faster receipt in USD and predictable, low‑fee Pix withdrawals site, YC launch.
• Freelancers and contractors on platforms (Upwork, Fiverr, etc.): Platform payouts in USD often involve delays, fees, or bad exchange rates to reach local accounts; they need transparent fees and quicker on‑ramps/off‑ramps into Pix YC launch, site.
• Creators and platform earners (streamers, YouTubers, gig workers): They want to hold value in USD/stablecoin to avoid BRL depreciation and cash out to Pix on demand, but current options can be risky, slow, or costly site.
• People in Brazil receiving remittances from family abroad: Traditional remittances can be slow and expensive, with funds arriving in BRL at weak rates; they want a cheaper, faster path that pays out instantly via Pix site, YC launch.
• Foreigners in Brazil moving foreign funds into local accounts: They encounter high fees, long processing, and cumbersome FX to get money into Pix‑enabled accounts; they need fast USD/stablecoin → Pix conversion with clear fees site.

How would they acquire their first 10, 50, and 100 customers

• First 10: Use founders’ networks to manually onboard early users (remote employees, freelancers, creators), hand-holding KYC, first deposit, and Pix withdrawal to prove speed and FX; collect feedback to remove friction site, YC launch.
• First 50: Seed communities (Brazilian remote‑work groups, freelancer forums, creator Discords) with step‑by‑step demos and limited referral/fee rebates; pair with targeted App Store/Play Store keyword work linking to a simple “get paid in USD” checklist App Store, Play Store.
• First 100: Run pilots with a payroll/marketplace partner to batch onboard users, launch a time‑boxed referral program, and publish two case studies on time/fee savings; support with niche fintech/remote‑work PR and tightened onboarding copy, while keeping ops ready for compliance/partner issues YC launch, site.

What is the rough total addressable market

Top-down context:

Brazil receives roughly USD ~4–5B/year in formal personal remittances (World Bank), providing a clear, monetizable starter pool; millions of Brazilians also work remotely, with 7.4M teleworking in 2022 per IBGE, expanding the potential user base beyond remittances World Bank, IBGE.

Bottom-up calculation:

Using Cacao’s public fees (≈0.9% deposit + 0.9% withdrawal ≈ 1.8% gross on a full cycle), capturing 5% of USD 4.9B in remittances would route ≈ USD 245M/year and yield ≈ USD 4.41M/year in revenue; higher upside comes from payroll/platform flows not in the remittance figure Cacao, World Bank.

Assumptions:

• Realized take rate on a full inbound→Pix cycle averages ~1.8% before partner costs/promotions.
• Cacao can legally operate via partners and win a small share of Brazil-bound remittance and payroll/platform flows.
• Domestic on/off‑ramp capacity (Pix) is not a bottleneck as volumes scale, consistent with Central Bank statistics BCB Pix.

Who are some of their notable competitors

• Wise: Multi-currency accounts with US receive details and BRL payouts (including Pix). Popular for cheaper USD→BRL transfers compared to banks Wise Pix support.
• Payoneer: Global platform payouts with USD receiving balances; freelancers can withdraw to Brazilian bank accounts, widely integrated with marketplaces Payoneer local receiving accounts.
• Nomad: US-dollar checking for Brazilians with an international debit card and BRL withdrawals; targets users who want to hold/spend dollars and move money home Nomad.
• AirTM: Stablecoin-first wallet and payout network supporting USDC/USDT and Pix payments; used by freelancers and platforms preferring crypto rails for speed AirTM Pix.
• Remessa Online: Brazilian remittance/exchange platform that generates foreign receive details, converts to BRL, and pays out quickly into local accounts, including Pix Remessa Online.