Pana
Pana Finance Inc. operates a mobile fintech app providing US checking accounts, Mastercard debit cards, and instant fee-free USD remittances for Hispanic and Latino immigrants in the United States. The platform bundles payroll deposits, cross-border transfers, and lifestyle add-ons like ITIN support and AT&T mobile plans.
- Company typePrivate
- Founded2022
- HeadquartersMiami, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Pana does
Pana Finance Inc. operates a mobile-first fintech application providing US dollar-denominated banking, international remittance, and money transfer services primarily targeted at the Hispanic and Latino diaspora in the United States. The core product is the Pana App, which allows users to open a US checking account in minutes using a passport, government-issued ID, or ITIN, sidestepping the SSN requirement that excludes many immigrants from mainstream US banking infrastructure. The platform combines a US deposit account issued through Community Federal Savings Bank (an FDIC member), a Mastercard-branded debit card, and instant P2P transfers that are fee-free between Pana users globally, with the company claiming 250,000+ active users. Beyond core banking, the app bundles ancillary services including ITIN acquisition support, AT&T-branded mobile SIM plans, and affordable health insurance plans, positioning Pana as a multi-service hub for its target demographic. Integrations with PayPal, Cash App, Deel, Airbnb, and Patreon extend the account's utility by allowing users to receive funds from multiple income sources directly into Pana.
The underlying technology is a mobile-first platform built around instant settlement between Pana users, biometric authentication, and continuous 24/7 account surveillance. Distribution is primarily product-led through self-serve app store listings (4.8 ratings on both iOS and Google Play) and community-driven word-of-mouth referrals, supported by bilingual (English/Spanish) content marketing via a company blog, podcast, and active social media presence on Instagram and Facebook. The company's go-to-market motion emphasizes inviting contacts into the network to unlock fee-free instant transfers, creating a community-driven growth loop.
Pana generates revenue primarily through transaction fees on cross-border remittances to non-Pana users and interchange fees on Mastercard debit card spend, while transfers between Pana users remain free; explicit fee schedules are not publicly disclosed. The company is privately held, headquartered in Miami, Florida, founded in 2021-2022, and has raised approximately $11.95 million across four funding rounds through March 2026, with backing from Y Combinator, Riverwalk Capital Partners, Diverse Angels, Leonis Investissement, Pareto Holdings, and TampaBay.Ventures. Pana is led by Founder and CEO Piero Del Risco and Co-Founder and CTO Luis Miguel Pena, and has secured strategic visibility through a Visa partnership announcement and coverage in TechCrunch and Forbes.
Pana firmographics
Firmographics- Name
- Pana
- Legal name
- Pana Finance Inc.
- Website
- https://holapana.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Pana Finance Inc. operates a mobile fintech app providing US checking accounts, Mastercard debit cards, and instant fee-free USD remittances for Hispanic and Latino immigrants in the United States. The platform bundles payroll deposits, cross-border transfers, and lifestyle add-ons like ITIN support and AT&T mobile plans.
- Ownership category
- akta.pro rank
Pana industry classification
Industry- Product category
- Digital Banking and Remittances
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
- akta.pro secondary industries
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA)
Keywords
Where Pana is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Pana business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Cross-border Remittances: Fees likely applied to international transfers to non-Pana users, while transfers between Pana users remain fee-free.
- Debit Card Services: Mastercard debit card issued through Community Federal Savings Bank, potentially generating interchange fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free P2P Transfers between Pana users |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Pana product offering
Product offeringCore offering
Pana operates a mobile-first fintech app that lets users open a U.S. deposit account with a passport or ID, receive paychecks via direct deposit, send and receive instant USD transfers worldwide, and access a Mastercard debit card issued by Community Federal Savings Bank. The core focus is cross-border remittances and digital banking for the Hispanic/Latino community in the U.S., with fee-free peer-to-peer transfers between Pana users and integrations with PayPal, Cash App, Deel, Airbnb, and Patreon.
Product overview
Pana is a unified fintech mobile application designed primarily for the Hispanic/Latino community in the U.S. and Latin America. The core product is the Pana App, which combines international remittance services (sending and receiving USD transfers worldwide), a U.S. checking account (powered by Community Federal Savings Bank), and a Mastercard debit card. The platform extends its offering through integrated add-on modules including ITIN acquisition services for users without SSN, AT&T mobile SIM services, and affordable health plans—all accessible within the same app ecosystem. Key differentiators include instant fee-free transfers between Pana users and integration with popular payment platforms like PayPal, Cash App, Deel, Airbnb, and Patreon.
Differentiator
Problem solved
Functional benefit
Products and services
- Pana App A mobile banking and remittance application enabling individual consumers, primarily Hispanic/Latino immigrants and diaspora members, to pay, send, and receive USD transfers worldwide instantly, open U.S. deposit accounts, and access fee-free peer-to-peer transfers between Pana users.
- U.S. Checking Account A U.S. deposit account that can be opened in minutes via passport or ID, allowing individual users to receive paychecks through direct deposit, deposit and withdraw cash, receive remittances from family abroad, and serve as the funding source for the Pana debit card.
- Mastercard Debit Card A physical Mastercard debit card issued by Community Federal Savings Bank, an FDIC member, that works for in-store and online purchases and ATM cash withdrawals, linked to the user's Pana U.S. checking account.
- ITIN Acquisition Service A service that helps individual users obtain their Individual Taxpayer Identification Number (ITIN) without leaving home, enabling immigrants without an SSN to access U.S. banking and tax-related services through Pana.
- Mobile & Data (AT&T SIM) A phone plan offering distributed through the Pana app as an AT&T SIM card service, allowing individual users to keep their existing phone number or choose a new one, integrated with the broader Pana account ecosystem.
- Health Plans Affordable U.S. health insurance plans offered to Pana members, designed to help immigrants navigate healthcare access in the United States through the Pana platform.
Quantifiable outcome
- Instant transfers - 156 Panas receiving money while users read the page
- +1 more outcomes
Companies that use Pana
Customer profileSegments2 records
Ideal customer profiles2 records
Pana technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature6 records
Pana partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship, core and minor.
- VisaflagshipPana is working with Visa to deliver next innovation in banking for Hispanics in USA. Announced via Business Wire in February 2022 as a strategic partnership to advance financial services for the Hispanic community.
- MastercardcorePana debit card is issued pursuant to license by Mastercard International. Pana has partnered with Mastercard for card issuance infrastructure.
- Community Federal Savings BankcoreUS debit card issued by Community Federal Savings Bank, an FDIC member, pursuant to license by Mastercard. Banking partner providing deposit account infrastructure.
- AT&TminorAT&T SIM card available through Pana app. Users can get AT&T SIM card with Pana, keeping their number or choosing a new one - mobile and data service partnership.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Pana competitors and assessment
Company assessmentBroad incumbents
- Xoom (PayPal): PayPal-owned digital remittance service targeting exactly the same USA→LatAm corridor and Hispanic user. Comparable in target market and product surface, with substantially deeper funding and PayPal's payment-rail distribution.
- Western Union: Largest incumbent in the USA→LatAm remittance corridor with both digital and cash-pickup networks. Overlaps with Pana in corridor and target customer, but offers a much wider service set and global agent footprint.
- MoneyGram: Legacy global remittance incumbent with a strong digital app and direct-to-bank payouts across Latin America. Comparable to Pana in core remittance use case but with global scale and a more diversified product set.
- Revolut: Global neobank with multi-currency accounts and cross-border transfers. Comparable in mobile-first banking and FX offering, but serves a global audience and operates at very different scale.
- Cash App: Block-owned mobile P2P and banking app with a large Hispanic user base in the US. Competes with Pana on P2P mechanics and instant transfers; integration partner today but a potential competitive threat over time.
Direct peers
- Remitly: Public US-headquartered remittance fintech with USA→Latin America as a flagship corridor. Directly comparable in target customer, mobile-first product, and BaaS-style banking infrastructure, but with materially larger scale and a public balance sheet.
- Wise: Global cross-border payments platform with multi-currency accounts and low-cost FX. Comparable in cross-border transfer mechanics and consumer target, though Wise serves a broader global corridor set and operates at vastly larger scale.
Emerging players
- Novo: US digital banking platform targeting Hispanic small businesses and freelancers. Comparable in Hispanic-focused GTM and mobile-first deposit account product, though Novo focuses on SMB rather than consumer remittance.
- Airwallex: Cross-border payments and FX platform with multi-currency wallets. Comparable in cross-border payments infrastructure and developer-friendly API-driven approach, though primarily targeting SMBs rather than diaspora consumers.
- Felix Pay: LatAm-focused digital payments platform enabling cross-border transfers between the US and Latin America. Comparable niche focus and customer segment, though with regional rather than US-incorporated positioning.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Pana social profiles
Digital presencePana compliance and trust
Trust signalCompliance2 records
Pana financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pana leadership team
Management profileNumber of profiles
Profiles2 records
Pana funding detail
Funding detailFunding overview
Funding rounds4 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pana M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pana
What does Pana do?
Pana operates a mobile-first fintech app that lets users open a U.S. deposit account with a passport or ID, receive paychecks via direct deposit, send and receive instant USD transfers worldwide, and access a Mastercard debit card issued by Community Federal Savings Bank. The core focus is cross-border remittances and digital banking for the Hispanic/Latino community in the U.S., with fee-free peer-to-peer transfers between Pana users and integrations with PayPal, Cash App, Deel, Airbnb, and Patreon.
Is Pana a public or private company?
Pana is a private company. It is classified as venture growth investor backed and is currently operating.
When was Pana founded?
Pana was founded in 2022. It employs 1 to 10 people.
Where is Pana based?
Pana is headquartered in Miami, United States, in the North America region.
How does Pana make money?
Two revenue lines are on record. Cross-border Remittances are the primary driver. The others are debit Card Services.
Who are Pana's main competitors?
Broad incumbents on record are Xoom (PayPal), Western Union, MoneyGram, Revolut and Cash App. Direct peers are Remitly and Wise. Emerging players are Novo, Airwallex and Felix Pay.
Does Pana have an API?
No public API is recorded for Pana.
What industry is Pana in?
Pana's product category is Digital Banking and Remittances. Its primary akta.pro industry code is BPAMAFAK, Cross-Border & FX Payments Platforms, with a secondary code of FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure. Its NAICS code is 5221 and its SIC code is 6199.