PayAngel is a payment service platform that facilitates secure, real-time money transfers from the UK, Canada, and Europe to sub-Saharan Africa, utilizing mobile and online interfaces for user convenience. It addresses the risk of fund diversion and misapplication, enabling immigrants to support their families and local businesses to access new cross-border markets efficiently.
Funding
$660K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SSUFounders
Product
Problem
Immigrants sending money to sub-Saharan Africa face challenges such as high transfer fees, unfavorable exchange rates, and concerns about the funds reaching their intended recipients. Traditional money transfer services often lack transparency and control, making it difficult for senders to ensure the money is used as intended.
Solution
PayAngel is a payment service platform that enables secure and affordable money transfers from the UK, Canada, the US, and Europe to sub-Saharan Africa. The platform offers users a choice of sending options via mobile app, website, telephone, or WhatsApp. PayAngel provides multiple payment methods, including debit cards, credit cards, Faster Payments, and SEPA Instant Pay. Recipients can receive funds through mobile money wallets, bank deposits, or cash pickup.
Target Audience
The primary target audience includes immigrants from the UK, Canada, the US, and Europe who regularly send money to family and friends in sub-Saharan Africa.
Features
- Mobile applications for iOS and Android
- Web and telephone-based transfer options
- WhatsApp chat integration for initiating transfers
- Multiple payment options including debit/credit cards and bank transfers
- Recipient options for mobile money, bank deposit, and cash pickup
- Real-time tracking and notifications for both sender and receiver
- Customer support via mobile and WhatsApp
- Referral program for earning rewards