CHICAGO--(BUSINESS WIRE)--Pangea Money Transfer, an innovative leader in the international remittance industry, today announced the appointment of Nishu Thukral as chief executive officer and president. Thukral previously served as chief operating officer at Pangea. Additionally, Pangea has appointed Tracey Weinberg as head of marketing and Elizabeth Arnold as vice president of product management.
In his new role, Thukral will leverage his extensive payments background to accelerate Pangea’s growth and innovation in the international money transfer industry. With more than 15 years of experience as an operator, investor, advisor and entrepreneur, Thukral has had a successful career that includes heading payment strategy at Redbox and serving as an investor at Susquehanna Growth Equity, a private equity group that counts Credit Karma, Outbrain and Fundera as portfolio companies. Most recently, as COO at Pangea, Thukral played a critical role in the launch and rapid growth of the company.
“Nishu’s extensive payments experience, both from the operator and investor side, makes him a great choice to lead Pangea,” said Jane Thompson, board member and former president of Walmart Financial Services. “His ability to drive payment technology strategies, build world-class teams and develop scalable operations will play an integral role in bringing our international money transfer solution to more people around the world.”
Founded in 2012, Pangea has experienced an 800 percent increase in year-over-year volume growth. Due to its streamlined customer experience and transparency around pricing, Pangea leads the industry with 65 percent repeat customer usage rates. Over the last year, the company has attained licenses to expand into additional states and released the first debit-to-debit international money transfer product. This real-time debit-to-debit product is the first to provide a way to transfer money to Mexico in real time using the 16-digit primary account number (PAN) on a debit card, rather than difficult-to-find bank details that few people have at their fingertips.
“Pangea is entering an exciting stage of growth,” said Thukral. “We’ve built a robust platform and are ready to scale quickly across other regions of the U.S. and globally. The addition of Tracey and Elizabeth to our leadership team will help us scale more rapidly. I’m honored to lead Pangea in our mission to make money transfers simple, fair and safe.”
As head of marketing at Pangea, Weinberg will be responsible for driving user acquisition, brand development and public relations to generate awareness and accelerate growth. Previously, Weinberg was senior vice president of marketing at Braintree, where she led efforts to grow and scale the business, leading to the company’s acquisition by PayPal. She has also led marketing for other high growth financial technology companies, including 2Checkout and iPay Technologies.
Arnold has a stellar track record of improving business performance in diverse digital environments, which will serve her well as she translates Pangea’s user needs and business insights into outstanding products and customer experiences. She was most recently director of omnichannel customer experience at Luxottica Retail Australia, where she focused on the OPSM brand, Australia’s equivalent to LensCrafters. Prior to Luxottica Retail, Elizabeth led consumer product management at Redbox.
About Pangea Money Transfer
Pangea’s mission is to make money transfers simple, fair and safe. Pangea’s remittance solution includes flexible payment vehicles, an enhanced user experience, significant cost savings and a proprietary compliance and risk analytics engine. The international money transfer platform enables users to send money to Mexico, Colombia, Guatemala, El Salvador and the Dominican Republic using any U.S. debit card through the mobile app, web portal or via retail partners. Receivers can collect their money at 18,000-plus cash pickup locations or directly into any of the 65 million debit cards or 60 million bank accounts in Mexico.
