Pana

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.

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

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

• Mobile banking app
• International money transfers
• Digital remittance services
• USD deposit account
• Fintech neobank

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Cross-border Remittances: Fees likely applied to international transfers to non-Pana users, while transfers between Pana users remain fee-free.
2. Debit Card Services: Mastercard debit card issued through Community Federal Savings Bank, potentially generating interchange fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core 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

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship, core and minor.

• VisaflagshipStrategic or Co-development PartnerPana 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.
• MastercardcoreTechnology or IntegrationPana debit card is issued pursuant to license by Mastercard International. Pana has partnered with Mastercard for card issuance infrastructure.
• Community Federal Savings BankcoreTechnology or IntegrationUS debit card issued by Community Federal Savings Bank, an FDIC member, pursuant to license by Mastercard. Banking partner providing deposit account infrastructure.
• AT&TminorChannel Partner/ Reseller/ DistributorAT&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

Broad 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

• YouTubeopen.spotify.com/show/3ojLpaL5kgMkgXLpQPaUBD
• Instagraminstagram.com/pana.app
• Xx.com/joinpana
• Facebookfacebook.com/panaapp
• LinkedInlinkedin.com/company/panaapp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pana