Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, Remitr’s platform routes end-to-end payments using its proprietary payment network, which integrates with clearing systems and third-party payment networks in various countries.
There are a multitude of processing layers involved in cross-border payments, and each layer adds its own costs, coupled with exhaustive compliance requirements, making it expensive and complex. Remitr helps connects all the dots by ensuring customer experience, adherence to regulatory guidelines and mobile convenience coupled with bank-grade security, said Kumar, co-founder and CEO, Remitr, in a press statement.
The company has established its presence in two of the major remittance sources, the UAE and Canada. In both geographies, Remitr has integrated with the local start-up ecosystem. Remitr is part of the In5 Innovation Hub in the UAE (incubation arm of Dubai Internet City) and works closely with DMZ in Toronto (incubation arm of Ryerson University).
The firm is in now executing on its expansion plans into the US, the UK, Europe, Far East and Australia.