Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

Limejump closes £3m Series A to disrupt the energy utility market

News

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market

Tech City Voices

Tribunal fees ruled unlawful: How will this impact gig economy firms?

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

London FinTech startup WorldRemit lands $45m in funding

London (2)
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

London-based money transfer service WorldRemit has landed $45m in new funding from TriplePoint Venture Growth BDC Corp and Silicon Valley Bank.

The money, a company statement said, will be used to support the startup’s growth.

Having raised $192.7m in funding to date, WorldRemit allows people to send money straight from their smartphone, as opposed to having to use a money transfer agent.

UK ‘ranks third for global FinTech VC funding as firms raise $564m in H1 2017’

Ismail Ahmed, WorldRemit’s CEO & Founder, said: We want to give people the power to share money anytime, anywhere. This latest financing will help more people send instant money transfers to their loved ones through the WorldRemit app. WorldRemit will continue to build partnerships with Mobile Money services, banks and payout networks around the world so that our service becomes universal.”

Ahmed first founded the startup when he was at university, in an attempt to ease the process of sending money to his family in Africa.

Sajal Srivastava, president of TriplePoint Venture Growth BDC Corp, commented on his firm’s involvement: “We are delighted to join Accel Partners and Technology Crossover Ventures in support of WorldRemit’s continued international expansion. It is exciting to be involved with a service that delivers real benefits to people around the world while demonstrating impressive business growth.  WorldRemit represents what the FinTech revolution has to offer: – innovation, empowerment to individuals and new opportunities to the financial services industry.”

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Limejump

Limejump closes £3m Series A to disrupt the energy utility market
posted 8 hours ago

startup empty office

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market
posted 10 hours ago

supreme court

Tribunal fees ruled unlawful: How will this impact gig economy firms?
posted 11 hours ago

urban massage

VIDEO: Urban Massage’s founder on the challenges and joys of growing a tech startup
posted 14 hours ago

London FinTech

UK ‘ranks third for global FinTech VC funding as firms raise $564m in H1 2017’
posted 15 hours ago

Cleo

FinTech startup Cleo gets £2m in round led by LocalGlobe
posted 17 hours ago