What BRAC Saajan Exchange does

BRAC Saajan Exchange Limited is a UK-based, FCA Authorised Payment Institution (reference 577104) that has operated for over 20 years as a specialist cross-border remittance provider focused primarily on the UK-to-Bangladesh corridor. The company is a subsidiary of BRAC Bank PLC and part of the broader BRAC network, leveraging this association to build trust with the UK Bangladeshi diaspora. It serves two distinct markets through a unified infrastructure: a consumer-facing remittance service delivered through its REMITnGO app and a UK small-business agent network (Agent Core), and a B2B infrastructure offering for Money Transfer Operators, Banks, and Mobile Wallets that integrate via a single API.

The company's core technology is a proprietary correspondent banking network with direct relationships to 20+ banks in Bangladesh, providing access to over 300,000 payout locations spanning Cash Pickup, Bank Transfer, Instant Transfer, and Wallet Transfer modes. This correspondent banking layer is exposed to external integrators as a single API, with named B2B customers including Belmoney, Earthport Payment Network, and HelloPaisa. The Agent Core platform is a proprietary SaaS-like layer that allows UK small businesses to become remittance agents, while REMITnGO provides a direct-to-consumer self-serve channel.

Revenue is generated primarily through transaction fees on cross-border money transfers, with pricing not publicly disclosed and provided on a quote-based, pay-as-you-go basis. The B2B API channel monetises the correspondent bank network as infrastructure, while the consumer/agent channel monetises direct and assisted transfers to Bangladeshi recipients. The company has expanded its stated service footprint to include India, Pakistan, Sri Lanka, Thailand, the Philippines, and China, though the operational depth of these additional corridors relative to the core UK-Bangladesh lane is not disclosed.

Name

BRAC Saajan Exchange

Legal name

BRAC Saajan Exchange Limited

Website

https://bracsaajanexchange.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

BRAC Saajan Exchange is a UK FCA Authorised Payment Institution and subsidiary of BRAC Bank PLC that provides cross-border remittance services primarily from the UK to Bangladesh, serving consumers, small-business agents, and B2B clients (MTOs, banks, mobile wallets) via a single API connected to 20+ correspondent banks.

Ownership category

akta.pro rank

Product category

Cross-Border Remittance Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

akta.pro secondary industries

SME & Business Cross-Border Payments (B2B) (FSAMAIAB), Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods (FSAGAKAD)

Keywords

• Cross-border remittance
• Money transfer services
• Correspondent banking network
• Remittance payout infrastructure
• Agent banking platform

Headquarters

HQ city

Birmingham

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Remittance Transaction Fees: The company generates revenue through transaction fees on cross-border money transfers from the UK to Bangladesh. Fee structure includes competitive exchange rates and transfer fees for sending money via multiple payout modes (Cash Pickup, Bank Transfer, Instant Transfer, Wallet Transfer).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

BRAC Saajan Exchange is a UK-based FCA Authorised Payment Institution that operates a cross-border remittance platform for transferring money from the UK to Bangladesh. Its offering comprises a B2B correspondent banking infrastructure with a single API connecting 20+ partner banks and 300,000+ payout locations, an Agent Core platform that onboards UK small businesses as remittance agents, and a consumer-facing app (REMITnGO) for direct money transfers to Bangladesh.

Product overview

BRAC Saajan Exchange operates as a multi-module remittance platform with a unified infrastructure. The core offering consists of Agent Core (a proprietary platform for Small Business agents), Payout Infrastructure (connecting to 20+ correspondent banks and 300,000+ payout locations in Bangladesh), and REMITnGO/Send Money (consumer-facing remittance application). The platform is unified by a single API that integrates all services, enabling correspondent banking connections and multiple payout modes including Cash Pickup, Bank Transfer, Instant Transfer, and Wallet Transfer.

Differentiator

Problem solved

Functional benefit

Brands

• REMITnGO: A remittance application offered by BRAC Saajan for sending money to Bangladesh.
• Agent Core

Quantifiable outcome

• 300,000+ payout locations in Bangladesh
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Correspondent Banks (20+)coreTechnology or IntegrationDirect correspondent banking partnerships built over 20 years providing access to Bangladesh's payment infrastructure and enabling industry-leading rates and service.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Remitly: US-headquartered digital remittance company serving migrant corridors including Bangladesh, India, and the Philippines. Directly competes with REMITnGO on consumer remittance from the UK and other developed markets to South Asia.
• Zepz (WorldRemit): UK-based digital cross-border money transfer platform operating the WorldRemit and Sendwave brands. Strong presence in African and Asian corridors and a direct competitor in UK-to-Bangladesh and UK-to-South Asia remittance.
• Trans-Fast Remittance: Cross-border remittance provider offering payouts to South Asian corridors including Bangladesh from the UK and US. Operates with a similar B2B and agent-based model targeting migrant communities.
• Wise (TransferWise): UK-headquartered cross-border payments specialist offering multi-currency accounts and low-cost international transfers. Competes with BRAC Saajan on UK-to-Bangladesh transfers and broader UK-to-South Asia flows, particularly among digitally native customers.
• Small World Money Transfer: UK-based remittance provider focused on serving migrant communities with similar corridor-focused strategy. Operates both digital and agent-based channels across multiple diaspora corridors including South Asia.

Broad incumbents

• Western Union: Global remittance incumbent with an extensive agent network and broad corridor coverage including Bangladesh. Operates as a broader incumbent offering money transfer alongside bill pay and business payments, not specialized in any single corridor.
• MoneyGram: Global money transfer operator with strong retail and digital presence across the UK and Bangladesh corridors. Competes as a broad incumbent rather than a corridor specialist.
• Ria Financial Services (Euronet): Global money transfer operator owned by Euronet Worldwide, offering cross-border remittance with strong agent networks across South Asia. Competes as a broad incumbent rather than corridor specialist.

Emerging players

• Belmoney: European digital remittance company targeting Eastern European and South Asian corridors. Listed as a BRAC Saajan customer, indicating an emerging player leveraging BRAC Saajan's Bangladesh payout infrastructure to serve its own end customers.
• HelloPaisa: South Africa-based remittance fintech focused on African-to-South Asia corridors including Bangladesh. Listed as a BRAC Saajan customer (B2B API partner), reflecting its emerging-player scale relative to established remittance incumbents.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/bracsaajan

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 BRAC Saajan Exchange