Please enable JavaScript in your web browser settings, under the site permissions section to unlock full site functionality. Click here for help.

Article Image - WorldRemit raises $100m funding round to drive global growth

Posted 27th February 2015

WorldRemit raises $100m funding round to drive global growth

NULL

Scroll to keep reading

WorldRemit raises $100m funding round to drive global growth

WorldRemit Raises $100m Funding round to Drive Global Growth

Online money transfer service WorldRemit today announced that it has raised $100m in a Series B funding round led by Technology Crossover Ventures (TCV), with participation from existing investor Accel Partners.

WorldRemit is a global leader in smartphone and web-based money transfers – providing a convenient, low-cost alternative to expensive brick-and-mortar agents.

The company enables a growing share of the $550bn in remittances sent each year by expatriates and migrant workers to their homelands.

This investment will allow WorldRemit to extend its existing reach of 50 send countries and 117 receive countries, and expand partnerships with Mobile Money wallets operated by telecoms companies in Africa, Asia and Latin America.

WorldRemit founder and CEO, Ismail Ahmed said: “I am delighted that TCV is joining WorldRemit in our mission to enable the seamless movement of money between people across borders.

“We have an amazing opportunity to shake-up a stale industry and to save our customers time and money. We are taking money transfers into the mobile age, where people send from apps and receive on Mobile Money services.”

To find out more information about either company, please visit www.worldremit.com, www.tcv.com, or www.accel.com

Categories: Finance

You Might Also Like

Epic Health Services Completes Acquisition of Loving Care Agency

08/04/2015Epic Health Services Completes Acquisition of Loving Care Agency

Epic Health Services Completes Acquisition of Loving Care Agency

5 Questions To Ask Before Putting AI Into Practice And A Checklist For Success

03/01/20205 Questions To Ask Before Putting AI Into Practice And A Checklist For Success

Despite the power of Artificial Intelligence to transform the customer experience, many AI projects fail at the first hurdle. Henry Jinman at EBI.AI outlines the 5 most common mistakes and how to avoid them using a tried and tested checklist.

3 Sales Tips That Will Transform Your Business

18/09/20203 Sales Tips That Will Transform Your Business

An effective sales team can completely transform a business’s fortunes. With the right leadership, your sales staff can become the linchpin of your entire organisation. Here are three tips for training a sales team to have a transformative effect on your bus

Garden Centres, Horticultural Properties/ Businesses and Farm Shops – The Same Service to All

09/06/2017Garden Centres, Horticultural Properties/ Businesses and Farm Shops – The Same Service to All

2016 Global Excellence Awards UK award recipient is Quinton Edwards, specialist property and business surveyors based in Newbury, West Berkshire. We interviewed expert Simon Quinton Smith to discover more about the firm’s specialist property and business off

Falcon Certified Public Accountants

26/01/2017Falcon Certified Public Accountants

Falcon Certified Public Accountants Ltd., registered with the Hong Kong Institute of Certified Public Accountants, specialises in providing audit, tax and corporate advisory services to a wide range of clients. Founder Gilbert Loke talks us through the firm an

19/02/2024Fashion Startup: How to Market Your Brand and Acquire Customers

Starting a fashion brand in today’s competitive market requires more than just a keen eye for style. With countless emerging designers and established brands vying for attention, effective marketing strategies are essential for standing out and acquiring

Six Benefits of A VPN

22/03/2023Six Benefits of A VPN

Whether you are running an online business or simply just a consumer trying to have the best experience on the internet possible, things are only sometimes plain sailing.

We Bring the Show to You

07/06/2017We Bring the Show to You

Simply Smiley Productions are experts at bringing the magic of theatre to children and recently received the Most Outstanding Children’s Entertainment Company award, as part of the 2016 Global Excellence Awards.

Creating A Lead Generation Strategy From Cold To Hot Leads

05/09/2022Creating A Lead Generation Strategy From Cold To Hot Leads

The lifeblood of any business is finding new clientele while retaining your old ones. Customers are like the focal point where the two arms of a business rest. On the one side are new customers; on the other are returning customers.

View More Articles

Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

MORE BRANDS