About Remit2India
Remit2India is a Financial Services company based in Mumbai (India) founded in 2001, and was acquired by UAE Exchange in October 2016. Online money transfer service to India for NRIs. Its focus areas include FinTech, Digital Remittance, Internet First Platforms and P2P Remittance.
Company details
Remit2Indias money transfer service is an online way of sending money to family and friends in India, in 10 currencies from 24 countries across the world. Process includes registering on the website with your and recipients details, wire money into remit2Indias local bank account. Service only available to NRIs and PIOs (Person of Indian origin). Gives the option to send money via ACH or a local wire transfer and does a direct credit in the recipients bank account. Has tied up with 90 Indian banks. Part of TimesOfMoney Pvt. Ltd.
- Headquarters Mumbai, India
- Stage Acquired
- SectorsFinancial Services
- Website remit2india.com
- Social LinkedIn X Facebook
- Acquired by UAE Exchange (Oct 2016)
- Annual Revenue$28.58 M (USD)109as on Mar 31, 2018
- Net Profit$876.77 K (USD)-33as on Mar 31, 2018
- EBITDA$3.46 M (USD)38as on Mar 31, 2018
- Investors
- Acquired byUAE Exchange
(Oct 2016)
Associated legal entities of Remit2India
Remit2India is associated with 2 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2018) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Unimoni Global Business Services Private Limited CIN U72200MH2006PTC332868 | Active | 25 Aug 2006 | Navi Mumbai, Maharashtra | ₹125 Cr | 2 | 3 | View details |
| Tom Technology Services Private Limited CIN U74999MH2016FTC284695 | Active | 11 Aug 2016 | Navi Mumbai, Maharashtra | ₹65.9 Cr | 1 | 3 | View details |
Investors in Remit2India
Remit2India has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include UAE Exchange.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Global money transfer and foreign exchange services are provided worldwide. | 1980 | uaeexchange.com | Abu Dhabi, United Arab Emirates |
Investor details for Remit2India
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Board of directors of Remit2India
The boards of the 2 registered companies of Remit2India currently have 5 directors; the longest-serving is Pradeepkumar Theckinkattil Prabhakaran, appointed in 2017. 15 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pradeepkumar Theckinkattil Prabhakaran DIN 07730187 | Director | 23 Aug 2017 | 9 yrs 2 mo | Tom Technology Services Private Limited |
| Rahul Ranjith Pai DIN 07730911 | Director | 23 Aug 2017 | 9 yrs 2 mo | Tom Technology Services Private Limited |
| Shinu Pillai Janardhanan DIN 07001386 | Director | 25 Apr 2019 | 7 yrs 6 mo | Tom Technology Services Private Limited |
| Robert John Miller DIN 08866693 | Director | 07 Oct 2020 | 6 yrs 1 mo | Unimoni Global Business Services Private Limited |
| Jatin Gupta DIN 00007185 | Director | 21 Oct 2021 | 5 yrs | Unimoni Global Business Services Private Limited |
Financials of Remit2India
Figures of Tom Technology Services Private Limited, the primary company behind Remit2India, for FY 2019. Revenue was ₹65.94 Cr (+84% year on year). Net profit was ₹8.44 Cr (13% margin). EBITDA was ₹11.37 Cr (17% margin).
- ₹65.94 CrRevenue · FY 2019 · +84% YoY
- ₹8.44 CrNet profit · 13% margin
- ₹11.37 CrEBITDA · 17% margin
- ₹27.6 LakhPaid-up capital
- 1Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Tom Technology Services Private Limited are on its company page.
Detailed financial statements for Remit2India
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Remit2India
2 dated milestones of Remit2India across 15 years, from founding to its latest funding, stage changes and deals.
- Founded Remit2India is founded.
- Exit Acquired by UAE Exchange.
Web traffic of Remit2India
Websites that share an audience with Remit2India (remit2india.com).
Websites whose visitors overlap most with Remit2India. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
remit.onlinesbi.com | remit.onlinesbi.com | 100% | – | ||
allahabadbank.com | allahabadbank.com | 95% | – | ||
statebank.com | statebank.com | 86% | – | ||
timescard.com | timescard.com | 85% | #6,726,840 | – | |
money2india.eu | money2india.eu | 84% | #1,265,439 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 14 similar websites and full traffic analytics for Remit2India
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Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Remit2India (Payments & Remittance Platforms) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | USD 950.07 M | 12,265 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 |
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Related news about Remit2india
Complete news archive for Remit2India
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Frequently Asked Questions about Remit2India
Remit2India was founded in 2001.
Remit2India is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Annual revenue of Remit2India is $28.58M as on Mar 31, 2018.
Remit2Indias money transfer service is an online way of sending money to family and friends in India, in 10 currencies from 24 countries across the world. Process includes registering on the website with your and recipients details, wire money into remit2Indias local bank account. Service only available to NRIs and PIOs (Person of Indian origin). Gives the option to send money via ACH or a local wire transfer and does a direct credit in the recipients bank account. Has tied up with 90 Indian banks. Part of TimesOfMoney Pvt. Ltd.
Remit2India has 1 investor. Key investors include UAE Exchange.
Remit2India is associated with 2 legal entities: Tom Technology Services Private Limited, Unimoni Global Business Services Private Limited.
Yes. Remit2India was acquired by UAE Exchange in October 2016.
The legal entities of Remit2India currently have 6 directors, including Pradeepkumar Theckinkattil Prabhakaran, Rahul Ranjith Pai, Shinu Pillai Janardhanan and others.