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Austin's Original Fintech Gets a Reboot

The Sosa Brothers Return to Netspend

Roy and Bertrand Sosa, the founders of Netspend, the largest prepaid debit card processor, have returned to the company to lead its next phase of growth. The brothers founded Netspend in 1999 and grew it into a major player in the financial services industry. In 2013, they sold the company to Total System Services (TSS) for $1.35 billion.

After leaving Netspend, the Sosa brothers founded Rev Worldwide, a provider of prepaid debit cards and other financial services to the Hispanic market. They sold Rev Worldwide to Netspend's parent company, TSYS, in 2019.

Now, the Sosa brothers are back at Netspend with a plan to grow the company's revenue by 20 to 30 percent year-over-year until they take it public. They believe that Netspend can be a major player in the emerging fintech industry.

“We're excited to be back at Netspend,” said Roy Sosa. “We believe that the company has a lot of potential, and we're confident that we can help it reach its full potential.”

A Brief History of Netspend

Netspend was founded in 1999 by Roy and Bertrand Sosa. The company's mission was to provide financial services to the underbanked population. Netspend's first product was a prepaid debit card that could be used to make purchases and withdrawals at any ATM.

Netspend quickly became a popular choice for the underbanked population. The company's cards were easy to use and could be used anywhere that accepted Visa or Mastercard. Netspend also offered a variety of features that appealed to the underbanked population, such as direct deposit and bill pay.

In 2013, Netspend was sold to Total System Services (TSS) for $1.35 billion. TSS continued to operate Netspend as a separate company. In 2019, TSS sold Netspend to its current parent company, First Data.

The Sosa Brothers' Plan for Netspend

The Sosa brothers believe that Netspend can be a major player in the emerging fintech industry. They plan to grow the company's revenue by 20 to 30 percent year-over-year until they take it public.

The Sosa brothers have a number of plans to grow Netspend's revenue. They plan to expand the company's product offerings, including new prepaid debit cards, credit cards, and other financial services. They also plan to expand Netspend's distribution channels, including new partnerships with retailers and financial institutions.

The Sosa brothers are confident that they can grow Netspend into a major player in the fintech industry. They have a proven track record of success in the financial services industry, and they are committed to providing the best possible products and services to their customers.