Pesa ( Formerly Pesapeer) has announced it will offer accessible and convenient money transfer services to businesses and individuals in all 36 Single Euro Payments Area countries. This expansion follows Pesa's recent launch in India and its impressive performance serving the West African diaspora, including Nigeria, Ghana, and Cameroon.
Founded in 2022, Pesa is a Canadian-based company founded by Nigerian nationals Tolulope Osho, Yusuf Yakubu, and Wale Afolabi, who had firsthand experience of the challenges in the remittance market. Pesa has rapidly grown, achieving transaction volumes in the hundreds of millions of dollars and scaling to tens of thousands of monthly users.
Pesa's business model focuses on a no-fee structure for all transactions, accurate exchange rates, and products tailored to customer needs. The technology platform includes advanced methods for real-time currency conversion, risk assessment, and fraud detection, enhancing transaction speed and security.
The company's micro-pricing model and digital remittance rails have made it particularly popular among younger, tech-savvy members of the African and Asian diasporas.
Pesa aims to extend its platform offering through the planned expansion, enabling immigrants and small businesses to conduct seamless and free cross-border transactions within Europe using Euros.
The services include real-time transactions, currency exchange, and multi-currency wallets. This move is part of a strategic plan to tap into a large and financially active market and offer secure, easy, and convenient transactions with no fees.
