Enabling cross country remittances: Pesapeer is simplifying the movement of money between multiple currencies

Making money is already hard; moving it should be easy. If you ask the founders of Pesapeer why it exists, the answer could be summarized as this: people were stranded because they didn’t have access to key financial solutions. 

If you’ve ever experienced it, you will know nothing quite beats being stranded trying to send money or receive money urgently. That agitation, the endless questioning from the intended receiver — “Has the money been sent?” Always followed by the doubtful statement, “I’ve not received it.” 

Imagine then if this problem extended beyond the confines of accessible geography? From time immemorial, cross border payment was a tedious and expensive endeavor, laced with different tiers of middlemen, codified messages, and exorbitant charges. Money was already hard to make, and moving it from one point to another was almost as hard. 

These experiences are mostly lived by immigrants who keep ties with close relatives in home countries and look to send money home frequently. Also, think of students who leave Africa to study overseas and need easy access to school fees and upkeep money from parents. Receiving and sending money has been challenging. 

Though things have changed, yet, they could be better.

Pesapeer to the World. 

When Tolu Osho, Yusuf Yakubu and Clement Ojo decided to build Pesapeer, the problem statement was this: How could they redefine cross border payment and banking? How could they stop people from getting stranded and furnish them with the ability to send money fast and without charge?

It was important for them to start with a single base and navigate the intricacies of enabling payment from that single base to multiple corridors. This is why they kicked off with Canada as the first sending corridor. 

Founded in 2020, Pesapeer’s first goal was to enable people living in Canada to send or receive money to Africa. It was a pressing challenge for…

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