Pangea, the Chicago-based international money transfer platform, has raised a new round of financing to execute its product roadmap led by Richard Kiphart of KGC Capital. Other institutional investors participating in the round include Chicago Ventures, Jump Capital, OCA Ventures and BW Capital Partners, with participation of Terry Diamond and existing seed investors.
“Over the years we have been involved with numerous payments companies. Pangea’s innovative approach to money transfer and potential to scale sets it apart from others in the space. We believe the product will have a lasting impact on the way millions of consumers transfer money. We were impressed by the team’s experience and product vision and are excited to support Pangea and help scale the product globally,” said Richard Kiphart.
Pangea has also appointed payments and retail industry veterans Jane Thompson, Alejandro Silva and Richard Kiphart to its board of directors, alongside Founder and CEO Rahier Rahman and COO Nishu Thukral.
“We have spent over a year building a state-of-the-art payment platform that will reduce the massive inefficiencies in the current model of international remittance. Our online, mobile and retail channels will usher in a new age of convenience for consumers that will offer ubiquitous access to global money transfer,” says Founder and CEO Rahier Rahman.
Founded in the fall of 2012, Pangea is currently in private beta and will soon launch its multiplatform solution.
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