Pangea Universal Holding

Remittances | Mobile/Online Remittance | Consumer | Business

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FOUNDING YEAR: 2012

LOCATION:

United States

REGION:

IL

Last Update:
17 Dec, 2018

Description

Pangea is an international money transfer platform that enables users to transfer funds using any US debit card through a mobile app, web portal, or via retail partners. Pangea’s remittance solution includes flexible payment vehicles, an enhanced user experience, significant cost savings, and an industry-leading compliance and risk analytics platform. Pangea has received awards for “Best User Experience” and “Fastest Transfer” at the 2017 Finder Money Transfer Awards. Currently, the company operates their business in 15 countries across Latin America and Asia.

FOCUS

PRODUCTS & SERVICES:

Mobile remittance app to send money from the US to Latin America and Asian countries. Pangea's remittance platform: It is a mobile-based application that allows users to transfer money to their family members in a single click. The app features an intuitive setup process that takes only a few seconds, a smooth user interface and a low, transparent fee structure. Registered senders can just login and repeat past transfers in only one click. Within minutes, recipients can get their money in cash at thousands of pickup locations, or have it deposited directly into a bank account or onto a debit card.

REVENUE MODEL:

Viewable by subscribers only

MAIN CLIENTS:

Retail Consumers

EXISTING PARTNERSHIPS:

Pangea has banks, retailers, and payments companies as partners: TeletonUSA, Liga Azteca de Basketball LLC, etc.

COMMENT

Pangea provides real-time debit-to-debit transfers via a mobile app to simplify international remittance. Pangea allows users to send cash to their hometown through the retail chain network.

PEOPLE

FOUNDERS:

Rahier Rahman, Kyle Stoner

Board Members and Advisors:

Chuck Templeton, Kevin Willer, Imran Ahmad, Rahier Rahman, Brett Goldstein, Bill Wolf, Jane Thompson, Fabrice Serfati, Alejandro Silva, Michael McMahon, Charlie Jadallah, Rodman K.Reef, Nishu Thukral

NUMBER OF EMPLOYEES:

11-50

INVESTORS:

KGC Capital, Chicago Ventures, Origin Ventures, Bryant Keil, Jump Capital, FireStarter Fund, OCA Ventures, Bill Gee, Larry Kaplan, The Impact Engine, Method Capital, IGNIA

KEY EMPLOYEES:

Nishu Thukral (CEO & President); Lamia Pardo (VP Operations & Growth); Patrick Culligan (VP Engineering & Product); Natalia Macwilliam (VP Risk & Compliance)

COMMENT:

Nishu is an innovator and leader in the payments industry with over 15 years of experience as an operator, investor, advisor, and entrepreneur.

TRACTION

VALUATION / MARKET CAP:

$77.43 MM in 2016

COMMENT:

Recently, the company announced that it is expanding its business operations to Asia: China, India, the Philippines, Vietnam, Thailand, Bangladesh, Indonesia, Malaysia and Singapore (July 2017).

MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$20.3 Millions

DATE OF LAST FUNDING:

Dec 2016

TOTAL FUNDING COMMENT:

The company plans to use recent raised funds to expand their services to 16 more countries across three continents by the end of the year (May 2017).

SEED & PRIOR FUNDING:

$1 Million

SEED CLOSED ON:

May 2013

FUNDING SERIES:

SERIES B

$11.62 Millions Closed: Dec 2016

COMMENTS

SERIES B : The company raised money from venture rounds. Total funding: $7.86 million

LISTED:

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