Pesa Expands Remittance Services To 36 European Countries, Surpasses 1M Transactions, Achieves Profitability
2024年7月23日 - 8:05PM
ビジネスワイヤ(英語)
Canadian Fintech Extends The Reach of Its
Secure and Affordable Money Transfer Platform to a Fourth
Continent.
Pesa, a Canadian cross border financial service provider,
announced today its expansion into Europe. The Toronto based
startup will now offer its free and convenient money transfer
services to businesses and individuals in all 36 countries of the
Single Euro Payments Area (SEPA).
This follows Pesa’s recent India launch and impressive results
serving the West African diaspora (Nigeria, Ghana, Cameroon).
With the Europe expansion, Pesa will extend its full platform
offering to enable both immigrants and small businesses to conduct
seamless and free cross-border transactions within Europe using
Euros. This includes real-time transactions, currency exchange, and
multi-currency wallets.
In tandem with the European expansion, Pesa has also announced
milestones in transactional volumes and profitability. The
remittance provider – founded in 2022 by immigrants Tolu Osho,
Yusuf Yakubu, and Adewale Afolabi – surpassed one million
transactions with a total transaction value of over $380 million,
since inception.
The company also confirms it is profitable, generating revenues
in excess of expenses for a second year. Pesa has achieved these
milestones by cultivating its business model and platform
innovation to serve the customer experience.
These are some of Pesa’s core attributes in each category:
Business Model
- Customer-Centric Product Design – No fee structure for
all transactions, real exchange rates, and product creation
entirely tailored to fit customer needs.
- Scalable Partnerships – Strategic alliances with
financial services to facilitate smoother integrations and wider
service availability.
Technology Platform
- App Design – Advanced methods for real-time currency
conversion, risk assessment, and fraud detection, significantly
enhancing transaction speed and security.
- User Experience – A highly responsive and user-friendly
app interface, which integrates all services seamlessly and offers
personalized for each user.
Anyone in Canada can access Pesa’s Europe, Africa, and Asia
remittance services by signing up or downloading the app via the
company’s website. Approval takes only a few minutes, owing to
Pesa’s efficient compliance technology.
Since founding in 2022, Pesa has rapidly grown to transaction
volumes in the hundreds of millions of dollars. Founders Osho and
Yakub have led the venture to scale tens of thousands of monthly
users. Both bring industry experience in financial services from
stints working with global leaders such as Interswitch, Coinbase,
and Interac.
Since launching Pesa, they’ve achieved this by providing
seamless services, better commissions, and more competitive money
transfer terms (than competitors) to immigrants sending money to
family and friends back home.
The company's micro-pricing model and digital remittance rails
have made it a hit, especially among younger, tech-savvy members of
the African and Asian diasporas.
"Building a competitive remittance company is no small feat, but
our relentless focus on the customer experience and compliance has
allowed us to gain traction," said Tolu Osho, CEO and co-founder of
Pesa, who is licensed by FINTRAC – the national financial
intelligence agency of Canada.
"The expansion into Europe is driven by a strategic plan to tap
into a large and financially active market, offering Pesa's
tailored transactional solutions to a new audience seeking secure,
easy and convenient transactions with no fees,” said Pesa Founder
Yusuf Yakubu.
About Pesa
Pesa is a Canadian remittance fintech company on a mission to
help immigrants succeed by providing affordable money transfer
services to send funds back home. Founded by immigrants, Pesa
leverages digital remittance rails and micro-pricing to
dramatically undercut fees of traditional money transfer firms. The
company is headquartered in Toronto.
Pesa is backed by Fast Forward Venture Studio and several
leading financial service providers.
For more information, visit pesa.co.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240723947742/en/
For inquires please contact support@pesa.co