TV host and actor Mario Lopez is no stranger to philanthropy. And for Lopez’s latest charitable endeavor, he is representing a company that facilitates remittances for the Mexican-American community.
“We’ve sent a lot of money [to Mexico] my parents and so have my extended family, and I know those fees can get pricey. And I just want people to save as much money as possible because every dollar counts, especially in Mexico,” Lopez told LAMag.
Remittances, or money sent from individuals in other countries, are one of Mexico’s most important currency sources. In 2021 alone, people in The United States sent more than 50 billion dollars to friends and family south of the border. But sending that money doesn’t come without a cost. On average, people pay about 5 percent of the money they are sending in fees. However, with Broxel, these fees will be a problem of the past.
Broxel users can send money to their loved ones in Mexico free of charge in seconds. Customers can also have two separate accounts on Broxel: one in Mexico using pesos and one in The U.S using dollars.
“We have a borderless financial institution helping you on a daily basis, not only for you but also for your family, so we are very proud about that,” Broxel founder and president Gustavo Gutierrez told LAMag.
Gutierrez runs the company out of Mexico City, and as someone who grew up in Mexico, he knows how crucial remittances are to the Mexican economy.
“Broxel means passion. Broxel means innovation. It’s our DNA… The social impact, it’s really powerful for us,” Gutierrez said.
The founder also believes Broxel will help further unite Mexico and The United States.
He said, “I believe geography can bring us apart, but technology is bringing us together.”
And Gutierrez is not the only one who believes in Broxel’s mission. Mexican actor Mario Lopez has gotten behind the company as a spokesperson. As a first-generation, Lopez remembers his family sending money back to Mexico when he was growing up.
As a member of the Latino community, Lopez is excited about how Broxel will serve its users in Mexico and The U.S.
“The fact that [Broxel] is making a huge social impact with this financial product, I just think it’s very cool and essentially makes a more fair economy for the Latino community because they’re saving a lot of money [in] really high fees,” Lopez said.
For more information on Broxel, see their website here.
Want the Daily Brief in your inbox? Sign up for our newsletter today.