placid net
Placid Express is a US-headquartered, multi-jurisdictional licensed money transfer operator serving diaspora workers sending remittances from the US, EU, and Malaysia to recipients in 30+ countries, primarily across South Asian and Filipino corridors, via mobile app, agent network, and cash pickup.
- Company typePrivate
- Founded1996
- HeadquartersWestbury, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What placid net does
Placid Express (legal entity Placid NK Corporation DBA Placid Express) is a privately-held international money transfer operator founded in 1996 and headquartered in Jackson Heights, New York, with regional operations in Rome (Placid Express Srl, EU) and Kuala Lumpur (Placid Express Sdn Bhd, Malaysia). The company provides cross-border remittance services from the United States, four EU markets (France, Italy, Portugal, Spain), and Malaysia to recipients in 30+ countries, with corridor concentration in South Asia (Bangladesh, India, Nepal, Pakistan, Sri Lanka) and the Philippines. Its technology stack combines a cloud-based processing platform with direct integrations into Visa Direct, InstaPay, IMPS, bKash, HDFC, Yes Bank, BDO, Cebuana Lhuillier, and M Lhuillier, a mobile-first iOS/Android app suite with biometric login (4.8/5 rating), an authorized US agent network, Malaysian branch locations, and a Tier 1 cash pickup product called spotCash!. Regulatory positioning is multi-jurisdictional: NMLS ID 1074458 and 30+ US state money transmitter licenses plus FinCEN MSB registration in the US, Banca d'Italia payment institution authorization with EU PSD passporting, and Bank Negara Malaysia money remittance permission. The business generates revenue primarily through foreign exchange margin spreads on currency conversion, transaction fees (with several corridors offered at zero transfer fee), debit card processing fees, and an EU white label licensing program in which partners pay wholesale rates to deploy branded apps on Placid's license and compliance infrastructure. The company is founder-led (co-founded by Dr. Kamal U. Ahmed and Mohammed H. Rashid), with no disclosed institutional, venture, or private equity backing.
placid net firmographics
Firmographics- Name
- placid net
- Legal name
- Placid NK Corporation DBA Placid Express
- Website
- https://placid.net
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Placid Express is a US-headquartered, multi-jurisdictional licensed money transfer operator serving diaspora workers sending remittances from the US, EU, and Malaysia to recipients in 30+ countries, primarily across South Asian and Filipino corridors, via mobile app, agent network, and cash pickup.
- Ownership category
- akta.pro rank
placid net industry classification
Industry- Product category
- International Money Transfer / Remittance Services
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industries
- Consumer P2P International Remittances (FSAGAKAA), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)
Keywords
Where placid net is headquartered
LocationHeadquarters
- HQ city
- Westbury
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
placid net business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Currency Exchange Margin: Placid makes money when converting source currency to destination currency. Exchange rate applied to transfers includes a margin spread. For example, 1 USD = 92.11 INR shown to customers includes wholesale rate plus margin.
- Transfer Fees: Some corridors charge transfer fees. However, debit card transfers to certain destinations (e.g., India) show $0.00 transfer fee. When fees apply, they vary by destination country, payment method, and amount sent.
- Debit Card Processing Fees: When funded with debit card, a small fee may be charged for certain corridors, though transfers process faster than ACH-funded transfers.
- White Label Licensing: EU white label partners pay wholesale rates to Placid Express Srl for money transfer infrastructure, license access, and compliance. Partners set their own pricing and keep margin minus transparent wholesale rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Debit Card Transfers - Zero Fee Tier |
| Transaction based/ take rate | Pay-as-you-go | ACH Bank Transfers - Low Fee Tier |
| Transaction based/ take rate | Pay-as-you-go | New Customer Promotional Rates |
| Other | Pay-as-you-go | Referral Program |
| Other | Pay-as-you-go | Sending Limits Structure |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels7 records
placid net product offering
Product offeringCore offering
Placid Express operates a multi-channel international money transfer and remittance platform enabling individual customers to send funds from the US, EU, and Malaysia to recipients in 30+ countries. The service supports bank deposits, mobile wallet transfers (bKash, IMPS, InstaPay, Visa Direct), and the spotCash! Tier 1 cash pickup service. The company also offers an EU white label program that licenses its payment institution infrastructure, compliance systems, and mobile apps to partners launching branded remittance services.
Product overview
Placid Express operates as a multi-channel international money transfer platform consisting of a core web/mobile platform for sending money, supported by native iOS and Android mobile apps with biometric security. The service offers two primary delivery methods: bank deposits and the spotCash! Tier 1 cash pickup service. The company also operates an EU White Label Program allowing partners to launch branded remittance services using Placid's licensed infrastructure. Transfers are available from three sending regions (US, EU, Malaysia) to over 30 destination countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Placid Express International Money Transfer Multi-channel international money transfer platform enabling customers in the US, EU, and Malaysia to send funds to recipients in 30+ countries with bank deposit and cash pickup delivery options. Targeted at individual diaspora workers and immigrants sending personal remittances.
- spotCash! Tier 1 Cash Pickup Tier 1 Cash Pickup service allowing recipients to collect funds from any participating institution branch by providing a tracking number, without needing to select specific locations. Available through partners including BDO, Cebuana, M Lhuillier, HDFC, and Yes Bank.
- Placid Money Transfer App (iOS)
Quantifiable outcome
- $1B+ transferred safely worldwide
- +4 more outcomes
Companies that use placid net
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
placid net technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability4 records
Feature9 records
placid net partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- BDO (Banco de Oro)coreCash pickup partner in Philippines. Recipients can collect Placid transfers from any BDO branch nationwide using tracking number.
- Cebuana LhuilliercoreCash pickup partner in Philippines. One of the largest pawnshop and microfinance companies, providing extensive rural coverage for cash collection.
- M Lhuillier (M Lhuillier Financial Services)coreCash pickup partner in Philippines. Provides microfinancial services and money remittance through extensive branch network.
- HDFC BankcoreBank deposit partner for India corridor. Enables direct fund transfers to HDFC accounts and interbank transfers to other Indian banks.
- Yes BankcoreBank deposit partner for India corridor. Provides IMPS/NEFT transfer capabilities for instant fund delivery to Yes Bank accounts.
- Visa DirectcorePayment network integration enabling push payments to eligible Visa cards. Part of high-speed payment rails infrastructure.
- InstaPaycoreReal-time interbank electronic fund transfer service in Philippines. Enables instant transfers to participating banks and e-money issuers.
- IMPS (Immediate Payment Service)coreReal-time mobile banking payment service in India. Enables instant money transfers through mobile phones and internet banking.
- bKashcoreMobile financial service partner for Bangladesh. Enables cash-out up to 100,000 Taka per transfer. Popular mobile money service in Bangladesh.
- Plaid InccoreBank account verification service. Placid uses Plaid to securely authenticate bank accounts for ACH transfers. Plaid never shares credentials with Placid.
Scale indicators12 records
Recent moves11 records
Expansion highlights5 records
placid net competitors and assessment
Company assessmentBroad incumbents
- Western Union: The global incumbent in cross-border money transfers with the largest agent network and brand recognition worldwide. Placid's EU CEO Nico Torni came from Western Union's senior ranks, and the two compete directly in the same diaspora corridors Placid serves, though Western Union operates at a vastly larger scale and broader corridor footprint.
- Wise (TransferWise): Cross-border payments company offering consumer and business transfers across 70+ countries with mid-market FX rates. Placid's 'One Hop Transfer' value proposition and direct payment-rail integrations are similar in spirit to Wise's transparent-fee model, though Placid is more concentrated in South Asian and Southeast Asian corridors.
- Xoom (PayPal): PayPal-owned digital remittance service offering transfers to 160+ countries, with strong presence in the Philippines, India, and Latin America. Competes with Placid in the same app-based cross-border remittance category, backed by PayPal's brand, funding, and payment infrastructure.
Direct peers
- MoneyGram: Direct competitor in consumer cross-border money transfer with a similar agent-and-digital hybrid model and strong presence in US-to-Latin America and US-to-Asia corridors. Placid competes with MoneyGram in the same South Asian and Filipino diaspora segments MoneyGram serves heavily.
- Remitly: Venture-backed digital-first remittance company targeting the same US-to-Philippines, US-to-India, and US-to-Bangladesh corridors that are Placid's strongest markets. Both serve diaspora workers through mobile apps, with Remitly focusing on app-only self-serve and Placid offering a hybrid app, agent, and branch network.
- Ria Money Transfer: Money transfer operator owned by Euronet Worldwide, with a global agent network serving many of the same diaspora corridors as Placid (Philippines, India, Bangladesh, Latin America). Ria is a direct competitor in the same customer segment and product category.
- WorldRemit: Digital remittance company serving senders from 50+ countries to 130+ destinations, with strong mobile-wallet payout options in the Philippines, Bangladesh, and Africa. Placid's spotCash! Tier 1 cash pickup and bKash integration compete directly with WorldRemit's mobile wallet and cash pickup options.
- Sigue Corporation: US-based money transfer company focused on the US-to-Latin America corridor with a large agent network. Placid's EU CEO Nico Torni previously held senior roles at Sigue, indicating direct operational familiarity. While Sigue's corridor mix differs from Placid's South/Southeast Asian focus, both compete for the US diaspora money transfer market.
Emerging players
- Small World Money Transfer: European-headquartered remittance company licensed across multiple EU jurisdictions serving diaspora corridors similar to Placid's EU business. Comparable to Placid in size, multi-jurisdictional EU licensing model, and corridor focus on South Asian and African diaspora from Europe.
- Sendwave: Mobile-first remittance app focused on African and Asian corridors from the US, UK, and Canada. Owned by Zepz (formerly WorldRemit Group). Competes with Placid in the same US-to-Bangladesh corridor and increasingly in the app-first segment Placid is targeting with its 4.8/5-rated mobile app.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
placid net social profiles
Digital presenceplacid net compliance and trust
Trust signalCompliance6 records
placid net financial estimates
Financial estimateRevenue estimate
Valuation estimate
placid net leadership team
Management profileNumber of profiles
Profiles8 records
placid net subsidiaries and ownership
Company hierarchySubsidiaries2 records
placid net funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
placid net 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 placid net
What does placid net do?
Placid Express operates a multi-channel international money transfer and remittance platform enabling individual customers to send funds from the US, EU, and Malaysia to recipients in 30+ countries. The service supports bank deposits, mobile wallet transfers (bKash, IMPS, InstaPay, Visa Direct), and the spotCash! Tier 1 cash pickup service. The company also offers an EU white label program that licenses its payment institution infrastructure, compliance systems, and mobile apps to partners launching branded remittance services.
Is placid net a public or private company?
placid net is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was placid net founded?
placid net was founded in 1996. It employs 51 to 100 people.
Where is placid net based?
placid net is headquartered in Westbury, United States, in the North America region.
How does placid net make money?
Four revenue lines are on record. Currency Exchange Margin is the primary driver. The others are transfer Fees, debit Card Processing Fees and white Label Licensing.
Who are placid net's main competitors?
Broad incumbents on record are Western Union, Wise (TransferWise) and Xoom (PayPal). Direct peers are MoneyGram, Remitly, Ria Money Transfer, WorldRemit and Sigue Corporation. Emerging players are Small World Money Transfer and Sendwave.
Does placid net have an API?
No public API is recorded for placid net.
What industry is placid net in?
placid net's product category is International Money Transfer / Remittance Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAGAKAA, Consumer P2P International Remittances.