Pangea’s app is now available in six Latin American countries, including Mexico, Colombia, Guatemala, El Salvador and the Dominican Republic. After raising a new round in December 2016, the company has embarked on an expansion process with plans to be available in 16 more countries across three different continents by Q3 2017.
The Pangea app helps users from the US send money to friends and family in a few steps. Registered senders can login and repeat past transfers. Recipients can get their money in cash at pickup locations, or have it deposited into a bank account or onto a debit card.
According to the Migration Policy Institute, 85% of Central Americans in the US come from Guatemala, El Salvador and Honduras, and they represent the fastest-growing Latino immigrant population. In 2016, more than USD 15 billion in remittances was sent from the US to Central America via formal channels, for more than 50% growth in less than five years.
The Pangea Money Transfer app is available for free on iOS and Android.
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