Pangea Money Transfer Appoints Nishu Thukral as New CEO

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.

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