About WorldRemit
WorldRemit is a company based in London (United Kingdom) founded in 2010 by Richard Igoe.. WorldRemit has raised $623.96 million across 10 funding rounds from investors including SVB, J P Morgan and Accel. WorldRemit has completed 1 acquisition, including Sendwave. WorldRemit offers products and services including Money Transfer App and Currency Converter. WorldRemit operates in a competitive market with competitors including Wave Systems, Chipper Cash, YouTrip, bKash and MoneyGram, among others.
- Headquarter London, United Kingdom
- Founders Richard Igoe
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Worldremit Ltd.
- Date of Incorporation 22 Dec, 2009
- Jurisdiction LONDON, ENGLAND
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Products & Services of WorldRemit
WorldRemit offers a comprehensive portfolio of products and services, including Money Transfer App and Currency Converter. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for sending secure international money transfers quickly.
Tool to view exchange rates for international transfers.
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Leadership Team
20 people
Software Development Team
19 people
Senior Team
8 people
Finance and Accounting
6 people
Data Analysis and Operations Team
4 people
Product Management Team
4 people
Sales and Marketing
3 people
QA Team
3 people
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Funding Insights of WorldRemit
WorldRemit has successfully raised a total of $623.96M across 10 strategic funding rounds. The most recent funding activity was a Series E round of $257.26 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Series E — $257.3M
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First Round
First Round
(01 Jun 2011)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series E - WorldRemit | Valuation |
investors |
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| Jun, 2019 | Amount | Series D - WorldRemit | Valuation | TCV , Accel |
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| Dec, 2017 | Amount | Series C - WorldRemit | Valuation | LeapFrog Investments |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in WorldRemit
WorldRemit has secured backing from 11 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include SVB, J P Morgan and Accel. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital is invested in global technology companies by TCV.
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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Private equity fund focused on banking, finance, healthcare, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by WorldRemit
WorldRemit has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Sendwave. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Cross-border money transfers are facilitated through a mobile wallet service.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - WorldRemit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Worldremit Comparisons
Competitors of WorldRemit
WorldRemit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Wave Systems, Chipper Cash, YouTrip, bKash and MoneyGram, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border money transfers are enabled via an app-based wallet.
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled for individuals through a mobile wallet.
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| domain | founded_year | HQ Location |
NFC-enabled travel cards and wallets are provided for travelers.
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| domain | founded_year | HQ Location |
Mobile financial services and payment system for consumers
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Worldremit
Frequently Asked Questions about WorldRemit
When was WorldRemit founded?
WorldRemit was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Where is WorldRemit located?
WorldRemit is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of WorldRemit?
Breon Corcoran is the current CEO of WorldRemit.
Is WorldRemit a funded company?
WorldRemit is a funded company, having raised a total of $623.96M across 10 funding rounds to date. The company's 1st funding round was a Series C of $40.9M, raised on Jun 01, 2011.
What does WorldRemit do?
WorldRemit is a banking channel for cross-border money transfers. It allows users to send, receive, and make global payments through bank transfers, cash pickups, mobile money, and wallets. It allows users to make international airtime top-ups and payouts through an app and web-based devices.
Who are the top competitors of WorldRemit?
WorldRemit's top competitors include Chipper Cash, Taptap Send and MoneyGram.
What products or services does WorldRemit offer?
WorldRemit offers Money Transfer App and Currency Converter.
How many acquisitions has WorldRemit made?
WorldRemit has made 1 acquisition, including Sendwave.
Who are WorldRemit's investors?
WorldRemit has 11 investors. Key investors include SVB, J P Morgan, Accel, LeapFrog, and LeapFrog Investments.
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