OverviewSuggest Edit
WorldRemit is a company that develops an online service that lets customers send money. Its platform allows users to transfer money to their friends and family living abroad, using a computer, smartphone or tablet. Money can be received as a bank deposit, cash pick-up, mobile money or mobile airtime top-up.
| Type | Private | |
| Founded | 2010 | |
| HQ | London, GB | Map |
| Website | worldremit.com | |
| Employee Ratings | More | |
| Overall Culture | D | More |
Recent NewsAll News
- Yugabyte inks deal with WorldRemit to deliver distributed SQL database and support
- This Week in European Tech: Cazoo raises ~$1 billion in SPAC listing, WorldRemit scores $292 million despite rebranding to ‘Zepz’, and more
- WorldRemit raises $292m; rebrands as Zepz
- WorldRemit founder Ismail Ahmed launches Sahamiye Foundation to tackle Somaliland's development challenges and unlock entrepreneurial potential
Key People/Management at WorldRemit
Ismail Ahmed
Founder, Chairman
Jonathan Addis
Independent Non-Executive Director
Breon Corcoran
Chief Executive Officer
Paul Vogel
Non-Executive Director , Head of Audit Committee
Andras Mecser
Group Chief Financial Officer
Richard Davies
Non Executive Director
WorldRemit Office Locations
WorldRemit has offices in London, Denver, Miami, Sydney and in 5 other locations
London, GB (HQ)
62 Buckingham Gate, Westminster
Sydney, AU
Level 23/1 O'Connell St
Saint-Gilles, BE
Place Marcel Broodthaers 8
Toronto, CA
2 Bloor St W suite 700, suite 2400
港区, JP
12/F Ark Mori Building, 1-12-32, Akasaka, Minato-ku
Auckland, NZ
41 Shortland St
WorldRemit Financials and Metrics
Summary Metrics
Founding Date | 2010 |
WorldRemit total Funding | $407.7 m |
WorldRemit latest funding size | $175 m |
Time since last funding | 3 years ago |
WorldRemit investors | Accel Partners, Silicon Valley Bank, Project A Ventures, Accel, BDC Capital Corporation, TCV, TriplePoint Venture Growth, Leapfrog |
WorldRemit's latest funding round in June 2019 was reported to be $175 m. In total, WorldRemit has raised $407.7 m. WorldRemit's latest valuation is reported to be $1.5 b.
WorldRemit Revenue
WorldRemit's revenue was reported to be £85.83 m in FY, 2018
| GBP | |
|---|---|
Revenue (FY, 2018) | 85.8m |
Gross profit (FY, 2018) | 50.1m |
Gross profit margin (FY, 2018), % | 58.4% |
Net income (FY, 2018) | (44.8m) |
EBIT (FY, 2018) | 38.9m |
Market valuation | 1.5b |
Cash (31-Dec-2018) | 45.6m |
EV | 1.5b |
- Source: Businessinsider, Finextra August 2020
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
|---|---|---|---|---|---|---|---|---|
Revenue | 86.4k | 1.2m | 5.5m | 15.2m | 26.8m | 41.1m | 60.5m | 85.8m |
Revenue growth, % | 1308% | 355% | 174% | 77% | 53% | 47% | ||
Cost of goods sold | 30.0k | 632.0k | 2.5m | 7.0m | 11.5m | 16.8m | 25.0m | 35.7m |
Gross profit | 56.4k | 584.8k | 3.0m | 8.2m | 15.3m | 24.3m | 35.5m | 50.1m |
- Source: Businessinsider
| GBP | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
|---|---|---|---|---|---|---|---|---|---|
Cash | 172.6k | 256.7k | 440.1k | 1.7m | 7.9m | 16.1m | 28.7m | 58.0m | 45.6m |
Accounts Receivable | 20.2k | 313.0 | 974.8k | 2.6m | |||||
Inventories | |||||||||
Current Assets | 192.8k | 942.6k | 1.3m | 4.0m | 17.7m | 37.3m | 47.6m | 82.9m | 72.9m |
- Source: Businessinsider
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
|---|---|---|---|---|---|---|---|---|
Net Income | (612.1k) | (747.7k) | (2.0m) | (10.2m) | (18.2m) | (15.2m) | (19.5m) | |
Cash From Operating Activities | (14.4m) | (25.2m) | 5.7m | 11.2m | (40.6m) | |||
Cash From Investing Activities | (7.3m) | |||||||
Cash From Financing Activities | 22.3m | 40.6m | 10.5m | 25.7m | 35.5m |
- Source: Businessinsider
| GBP | FY, 2010 |
|---|---|
Financial Leverage | 1.1 x |
WorldRemit Operating Metrics
WorldRemit's Users was reported to be 2 m in Dec, 2017.
WorldRemit Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Sendwave | August 26, 2020 | $500 m |
WorldRemit Cybersecurity Score
WorldRemit Online and Social Media Presence
32.31k Twitter followers
WorldRemit has 32.31k Twitter Followers. The number of followers has increased 0.7% month over month and increased 2.5% quarter over quarter
WorldRemit's Trends
Twitter Engagement Stats for @worldremit
8.1k
Tweets
896
Following
32.3k
Followers
165
Tweets last 30 days
2.5
Avg. likes per Tweet
27.3%
Tweets with engagement
WorldRemit Company Culture
Overall Culture
D
62/100
CEO Rating
F
50/100
Compensation
B
73/100
WorldRemit News and Updates
September 07, 2021
Yugabyte inks deal with WorldRemit to deliver distributed SQL database and support
Yugabyte, the leader in open source distributed SQL databases has announced a new EMEA customer win, with global digital money transfer service leader WorldRemit.
August 27, 2021
This Week in European Tech: Cazoo raises ~$1 billion in SPAC listing, WorldRemit scores $292 million despite rebranding to ‘Zepz’, and more
Happy Friday! This week, our research team tracked more than 70 tech funding deals worth more than €1.3 billion, and 15 exits, M&A transactions, and rumours, and related news stories […]
The post This Week in European Tech: Cazoo raises ~$1 billion in SPAC listing, WorldRemit scores $292 millio…
August 23, 2021
WorldRemit raises $292m; rebrands as Zepz
UK-based cross-border mobile payments firm WorldRemit has raised $292 million in primary financing at a $5 billion valuation and changed its name to Zepz.
April 07, 2021
WorldRemit founder Ismail Ahmed launches Sahamiye Foundation to tackle Somaliland's development challenges and unlock entrepreneurial potential
LONDON and HARGEISA, Somaliland, April 7, 2021 /PRNewswire/ -- A team led by WorldRemit founder Ismail Ahmed has today launched Sahamiye Foundation, a philanthropic organisation focused on using technology and innovation to tackle Somaliland's most pressing development challenges. Over...
September 15, 2020
WorldRemit launches transfer tracker app
WorldRemit, a leading global digital payments company, has launched The WorldRemit Transfer Tracker mobile App for recipients of money transfers which allows them to track their remittances.
September 15, 2020
WorldRemit Launches Inaugural List of Influential Latinos in the U.S.
DENVER, Sept. 15, 2020 /PRNewswire-HISPANIC PR WIRE/ -- WorldRemit, a leading digital payments platform, has launched the inaugural List of Influential Latinos in the United States, in celebration of Hispanic Heritage Month this year. This year's celebrations will not include in-person...
WorldRemit Blogs
March 22, 2022
How do remittances benefit social growth?
As well as being a vital lifeline for many families with members living abroad, remittances have an important impact on countries globally.
March 22, 2022
The rewards of refer a friend
Remember, there’s nothing better than a recommendation from friends - especially for important things like transferring money to your loved ones.
March 08, 2022
International Women’s Day - 12 women who #breakthebias
Tuesday, 8 March is International Women's Day: the day when the world celebrates the achievements of women from all walks of life.
March 08, 2022
International Women's Day 2022: in conversation with Deqa Dhalac
As part of our ongoing celebration of International Women’s Day, we’re highlighting stories of women around the world. Women who are leading the way in their fields, who are achieving huge successes, or women who are paving the way for other women in their industries.In
February 28, 2022
Valentine’s Day around the world: even more untraditional traditions for your global sweetheart
Every country has their own unique way of feeling the love, we’re bringing you 10 new traditions that you may not have heard of before.
February 25, 2022
How to apply for Canadian citizenship
What does it really take to settle down in Canada long-term? We’ll answer this question and more in our handy rundown.
WorldRemit Frequently Asked Questions
When was WorldRemit founded?
WorldRemit was founded in 2010.
Who are WorldRemit key executives?
WorldRemit's key executives are Ismail Ahmed, Jonathan Addis and Breon Corcoran.
How many employees does WorldRemit have?
WorldRemit has 965 employees.
What is WorldRemit revenue?
Latest WorldRemit annual revenue is £85.8 m.
What is WorldRemit revenue per employee?
Latest WorldRemit revenue per employee is £88.9 k.
Who are WorldRemit competitors?
Competitors of WorldRemit include MoneyGram, Small World Financial Services and Azimo.
Where is WorldRemit headquarters?
WorldRemit headquarters is located at 62 Buckingham Gate, Westminster, London.
Where are WorldRemit offices?
WorldRemit has offices in London, Denver, Miami, Sydney and in 5 other locations.
How many offices does WorldRemit have?
WorldRemit has 9 offices.
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