Pangea Payments, a Chicago, IL-based money transfer company, raised over $1m in seed funding.
Backers included OCA Ventures, Origin Ventures, i2A Fund and FireStarter Fund, as well as angel investors Larry Kaplan, Bill Gee and Bryant Keil.
The company intends to use the funds to continue to develop its platform with strategic partners.
Led by Rahier Rahman, Founder & CEO, Pangea is pioonering a solution (launched expected in Fall 2013) aimed to allow users to send money anywhere through web, mobile and retail locations by charging a consistent fee, no matter how much or where they want to send money.
The company started operations in the Impact Engine venture accelerator.