Divilo: a strategic timeline, partnerships, and growth plans from the founder’s perspective
Divilo began with a clear mission in January 2020 to deliver payment, collection, and accounting services to businesses and freelancers. Although the platform was founded then, it did not operate publicly until January 2022, after securing a banking license from the Bank of Spain. Since launching, the company has grown to serve around 6,000 users who rely on its Tap to Phone capability, which enables a mobile device to function as a payment terminal. Partnerships have followed quickly: a recent agreement with Boyacá and Visa to digitize street vendor payments, and a year-long collaboration with Cabify to streamline ride-hailing transactions. The leadership emphasizes that plans for a 2024 public listing were postponed, while the ambition remains to expand beyond Europe, reaching Latin America through a launch in the Dominican Republic.
Which sectors use the Divilo application most?
Urban mobility, delivery, distribution, and logistics top the usage chart. Cabify alone reportedly involves roughly four thousand drivers, underscoring the platform’s significant footprint in this space.
Do taxis also use Divilo?
Use by taxis is more modest, yet substantial. The company reports a large customer base, with higher volume from the VTC sector than from traditional taxi services. Ride-hailing remains a critical growth area, as mass adoption would require one of the big Spanish players to activate all drivers and passengers. In the taxi segment, price competition with banks can occur; the focus is on being the best payment experience rather than the cheapest option.
Does Divilo target startups and large enterprises?
While the startup segment is not the primary focus, Divilo positions itself across both B2C and B2B markets. The current client profile features large organizations with many freelancers, ensuring enterprise-level capabilities that reach traveling or self-employed workers with efficiency.
Are other alliances on the horizon beyond Visa, Cabify, and existing partners?
Yes. Several agreements are in the works, though some are confidential for now. One vertical highlighted includes delivery services as a priority area for expansion.
Did digitalization accelerate after the pandemic, and how is growth evolving?
The company notes that the post-pandemic period has amplified growth. In 2020, Divilo was laying the technical and regulatory groundwork before receiving its operating license, with market entry effectively occurring after the pandemic began. The business entered the market during this transitional period and has grown since, while continuing to invest in technology and licenses.
Will cash usage disappear completely?
Cash will not vanish in the near future, particularly in Spain where cash circulation remains high. The founder believes cash offers freedom of payment choice, even as cash use is declining rapidly. The view is that a fully digitized economy will take time to become the standard, but the trend toward digital payments is undeniable.
Could the app promote digitalization in rural areas?
Yes. Divilo argues its technology is faster, cheaper, and more adaptable than traditional dataphones. By leveraging 5G, SIM-card based mobile payment solutions, and robust mobile devices, the system performs well even where coverage is imperfect. The goal is to improve user comfort and efficiency while supporting sustainability by reducing paper use, a core value of the company since its inception.
Is an initial public offering still planned for 2024?
Plans have evolved. The current stance is to pursue a public listing in the following year, though the precise timeline depends on market conditions and growth trajectories. The leadership stresses continued client focus and market readiness over rushing an exit strategy.
Are there plans for international expansion beyond Europe?
The company already holds a European passport and intends to launch in Portugal before expanding across the European Union. Latin America is a key target, with a first push planned for the Dominican Republic by late 2024 or at the end of 2025. The Dominican Republic is seen as a strategic starting point due to its strong tourism sector and developing payments landscape, with the potential for rapid scale before moving into Colombia and Mexico later. The approach prioritizes markets with lower competition and high potential volume, leveraging existing relationships and local knowledge to create fast value.
Will digital currencies be incorporated in the future?
Cryptocurrencies are acknowledged as high risk and volatile. While not part of the near-term plan, the door is not closed for the longer term; the company will monitor developments but does not foresee a near-term adoption window beyond a 2–3 year horizon.
What about profitability and turnover in the initial year of operation?
Financial specifics remain confidential. The first year of actual operation did not produce accumulated losses, and profitability is targeted for mid-year in the following year. With a lean team philosophy and a history of profitable growth in prior ventures, the company remains cautiously optimistic about achieving profitability in the third year of operations.
What is the ongoing plan for product development and customer support?
Beyond international expansion, the focus is on continuously improving the payment platform. The aim is to stay at the forefront of payment technology within Europe and globally, delivering enhanced support and services to the four key industries while expanding the customer base—from large enterprises to small businesses and freelancers—across various markets. The emphasis remains on practical product improvements, strong customer focus, and scalable growth to reach profitability as quickly as possible.