IRMAAN INTERNATIONAL EXCHANGE LTD.

What IRMAAN INTERNATIONAL EXCHANGE LTD. does

IRMAAN International Exchange Ltd. is a privately-held Canadian money services business (MSB) founded in 2018 and headquartered at a single physical office in Ottawa, Ontario. The company provides three core services: a Delivery Service for inward international money transfers, a Receipt Service for outgoing remittances, and an Exchange Service for currency conversion. Its published exchange-rate board covers three currency pairs against the Canadian dollar — USD (buy/sell spread of CAD 0.05), EUR (CAD 0.04), and GBP (CAD 0.05) — indicating a focused retail FX and remittance offering rather than a broad multi-currency operation.

The company's technology stack, as disclosed on its website, is described in generic terms as a "web-based financial services platform" employing "advanced technologies and rigorous protocols" for secure transactions, with no specific AI, machine learning, automation, or proprietary technology claims in the source material. There is no mobile app, no public API, no documented digital onboarding flow, and no third-party integrations disclosed. Distribution is concentrated at the single Ottawa branch plus phone and email channels; the company does not appear to operate an agent network, partner corridors, or digital-only onboarding.

Revenue is generated through transaction-based fees derived from currency exchange spreads and remittance service charges. The customer base spans individual consumers (primary) and small business clients (secondary), with no named enterprise customers, no disclosed contract values, and no segment-level revenue mix. Marketing is limited to the company website (irmaan.ca), which hosts service information and an educational blog on currency topics, and direct contact channels. No funding rounds, M&A activity, partnerships, leadership changes, awards, patents, or regulatory actions are disclosed in the source material.

Name

IRMAAN INTERNATIONAL EXCHANGE LTD.

Legal name

IRMAAN INTERNATIONAL EXCHANGE LTD.

Website

https://irmaan.ca

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

IRMAAN International Exchange Ltd. is a privately-held, single-branch Ottawa-based Canadian money services business founded in 2018, offering currency exchange (USD, EUR, GBP) and international money transfer/remittance services to individual consumers and small businesses in-person, by phone, and via its website.

Ownership category

akta.pro rank

Product category

Cross-border Remittance and Currency Exchange

NAICS

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

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSAMAIAG

Multi-Currency Accounts, Wallets & IBAN Services

Financial & Insurance/Payments & Transaction Processing/Cross-Border Payments & Remittances

SECONDARYBPAMAFAK

Cross-Border & FX Payments Platforms

Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms

Keywords

• International money transfer
• Currency exchange services
• Remittance solutions
• Cross-border payments
• Foreign currency conversion

Headquarters

HQ city

Ottawa

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Currency Exchange Services: Revenue generated through currency exchange margins. The company displays buy and sell rates for major currencies (USD, EUR, GBP), with the spread between buy and sell rates representing the primary revenue stream.
2. International Money Transfer Services: Revenue generated from facilitating international money transfers for individuals and businesses. Services include delivery service (inward transfers) and receipt service (outgoing remittances).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

IRMAAN International Exchange Ltd. facilitates international money transfers, foreign currency exchange, and remittance services for both individual consumers and businesses. The company offers three core services: Delivery Service for inward money transfers, Receipt Service for outgoing remittances, and Exchange Service for currency conversion (USD, EUR, GBP). Revenue is generated through currency exchange margins and transaction fees on cross-border payment services.

Product overview

IRMAAN International Exchange Ltd. operates as a unified financial services platform offering three interconnected core services: Delivery Service (inward money transfers), Receipt Service (outgoing remittances), and Exchange Service (currency conversion). The company facilitates international money transfers, currency exchange, and remittance solutions for both individuals and businesses, leveraging what it describes as advanced technologies to provide efficient, secure, and user-friendly financial services.

Differentiator

Problem solved

Functional benefit

Products and services

• Delivery Service Swift and secure inward money transfers to customers, ensuring prompt delivery for personal or business purposes with a focus on reliability and security. Available at the Ottawa office for individuals and businesses needing reliable inbound remittances.
• Receipt Service Outgoing remittance handling service enabling customers to send funds internationally with ease and confidence, tailored for both individuals and businesses with strict security measures to safeguard customer assets.
• Exchange Service Foreign currency conversion service providing competitive exchange rates and seamless transactions, handling USD, EUR, and GBP with real-time displayed buy/sell rates for travel, business, or personal needs.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• MoneyGram: Established global money transfer and bill payment operator with extensive agent footprint in Canada. Overlaps directly with IRMAAN's transfer and FX services as a larger incumbent.
• Western Union: Global incumbent in cross-border money transfers and FX with the largest agent network. Competes with IRMAAN in the same corridors but at vastly greater scale and breadth.

Direct peers

• XE Money Transfer: Currency exchange and international money transfer service operating in Canada. Comparable FX-led transfer offering aimed at both personal and business customers.
• KnightsbridgeFX: Canadian-licensed MSB offering currency exchange and international money transfers to individuals and businesses from a Canadian base. Comparable product mix (FX + remittance) and regulatory profile.
• Remitly: US-headquartered digital remittance fintech serving immigrant corridors worldwide with mobile-first transfers. Directly comparable business model targeting the same migrant-send customer with a digital wallet/app experience.
• Remitbee: Canada-based digital remittance platform serving diaspora corridors from Canada to South Asia, Africa and the Philippines. Directly comparable as a Canadian MSB competing for the same outbound transfer customers IRMAAN targets.
• Wise (formerly TransferWise): Global cross-border payments platform offering multi-currency accounts and mid-market-rate transfers. The dominant digital competitor in the same cross-border remittance category, with vastly broader currency coverage.
• WorldRemit: Digital cross-border remittance platform serving migrant corridors with mobile money and bank deposit payouts. Comparable digital-first approach to the same remittance customer.
• OFX: Cross-border payments and FX specialist serving both individuals and SMBs. Comparable currency conversion + international transfer product, with deeper corridor coverage.

Regional players

• Intermex: US-headquartered money transfer company focused on Latin America and Caribbean corridors. Comparable remittance business model though operating primarily in US-to-LATAM corridors rather than from Canada.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

• LinkedInlinkedin.com/company/irmaan-international-money-transfer-ltd

Revenue estimate

Valuation estimate

Number of profiles

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 IRMAAN INTERNATIONAL EXCHANGE LTD.