Primary Job Title Founder & CEO Primary Organization Moneta Tech / App
Location United States, North America Gender Male
Website www.monetaapp.com LinkedIn View on LinkedIn
Alejandro A. Alvarez is a 23 year old entrepreneur from Miami, Florida. He dropped out of college to pursue entrepreneurship and become financially independent on his own.
The moment he dropped out, Alejandro (18 years old) had nothing more than $7 in his bank account. He went from living in a nice house with his parents to couch surfing with
friends. At 19 years old he started working as an insurance broker and became financially independent. It wasn't easy and nor did he gave himself a luxurious lifestyle, only affording what he needed to survive.
Alejandro started working on other gigs and eventually had to deal with the inconvenience of handling spare change from cash transactions. That's when he came up with the idea to digitalize spare change directly at the POS after a cash purchase. Alejandro, without any previous experience in the FinTech industry, devoted himself for 2 years to completely study the industry and how to build a successful startup in the software industry as a non technical founder. He didn't have a teacher or a family that supported him so all the burden felt to himself. This gave him the motivation to push his limits and while self studying, working to pay bills, he founded Change$Whiz (Moneta Tech).
Early stage - Alejandro pivoted the idea to the family of a friend from High School and was able to raise $30k which he gave to an app development agency in San Diego. The app development agency turned out to be a scam that only built apps on platforms such as Wordpress. Alejandro without experience was expecting this agency to fully develop a progressive web application that has never been developed before... this left him hopeless but he wasn't quite ready to quit.
He decided to call it quits with Change$Whiz and the app development agency to start Moneta Tech (different legal entity) with $0. His first move was to assemble a team based on skills and without any funding offer them equity in the company. Alejandro convinced 4 highly qualified individuals to join his mission and work together on Moneta.
