• FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    IL
    Last Update:
    18 Oct, 2019

Description

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:
$12.62 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:
NO

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