Pesa, the Canadian cross-border financial services provider, is expanding into India after phenomenal success serving the West African diaspora. With $2 million in revenue and profitability in its first year, Pesa is now focusing on the massive India remittance corridor, which sees over $100 billion annually.
Accessible to anyone in Canada, Pesa’s new India remittance service offers seamless transactions via their website or app. Approval takes only minutes, thanks to Pesa’s efficient compliance technology. To bolster its India expansion, Pesa will be hiring local payment experts and establishing an office in India this year.
Founded in 2022 by immigrants Tolu Osho and Yusuf Yakub, Pesa has rapidly grown to handle transaction volumes in the hundreds of millions of dollars. Their industry experience from working with global leaders like Interswitch, Coinbase, and Interac has fueled Pesa’s success. They’ve garnered tens of thousands of monthly users by offering better commissions and competitive money transfer fees, especially to immigrants in the African and Asian diasporas.
“Our relentless focus on customer experience and compliance has allowed us to gain traction,” says Tolu Osho, CEO and co-founder of Pesa, licensed by FINTRAC. “We concentrate on strong communities, like the Indian and Nigerian diaspora, where we can provide an unmatched experience at affordable rates. Our high customer retention is a testament to our differentiated product. We’re thrilled to extend our affordable, fast, and secure remittance services to the Canadian-Indian diaspora,” adds Osho.
