Nigeria’s Remittance Startup Pesa Launches in India After Impressive Results in Nigeria, Ghana, Cameroon.

19 Apr 2024

Canadian fintech company Pesa is setting its sights on the massive Indian remittance market. Founded by Nigerian immigrants who understand the struggles of sending money back home, Pesa is aiming to shake things up with its user-friendly app and focus on affordability.

This news comes after a stellar first year for Pesa. Launched in 2022, they've already carved a niche serving the West African diaspora in countries like Nigeria and Ghana. Now, with a successful track record and $2 million in revenue under their belt, they're ready to tackle the India-Canada remittance corridor, a market worth over $100 billion annually.

Pesa offers a smooth experience for Canadians sending money to loved ones in India. Signing up and sending money can be done easily through their website or mobile app. To truly establish themselves in India, Pesa plans to open a local office and hire Indian payment experts this year, demonstrating their commitment to the market.

The secret sauce behind Pesa's success? A focus on the customer. Founders Tolu Osho and Yusuf Yakub, with their experience at financial giants like Interswitch and Coinbase, prioritized user experience and competitive fees. Their unique micro-pricing model has resonated with tech-savvy younger generations in both the African and Asian diasporas, leading to hundreds of millions of dollars processed in transactions.

"Building a great remittance company takes hard work," says Tolu Osho, CEO and co-founder of Pesa. "Our focus on putting the customer first and following strict regulations has been key to our growth."

Understanding the limitations of a one-size-fits-all approach, Osho continues, "We don't try to be everything to everyone. We focus on building strong relationships with specific communities, like the Indian and Nigerian diaspora. We offer exceptional service at unbeatable rates, which is why our customers keep coming back. We're excited to bring our fast, secure, and affordable remittance services to the Canadian-Indian community."

Pesa's mission is clear: to empower immigrants by making sending money home easier and cheaper. Their innovative technology and commitment to affordability set them apart from traditional money transfer services. Backed by Fast Forward Venture Studio and leading financial institutions, Pesa is poised to disrupt the remittance landscape in India and beyond.

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