WorldRemit

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.
TypePrivate
Founded2010
HQLondon, GBMap
Websiteworldremit.com
Employee Ratings2.7More
View Jobs (33)

Recent NewsAll News

Latest Updates

Employees (est.) (May 2020)687(+5%)
Job Openings33
Revenue (FY, 2018)£85.8 M(+42%)

Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder & Non-Executive Chairman
Jonathan Addis

Jonathan Addis

Independent Non-Executive Director
Mary Barnes

Mary Barnes

Chief of Staff
Breon Corcoran

Breon Corcoran

Chief Executive Officer
Andras Mecser

Andras Mecser

Group Chief Financial Officer
Catherine Wines

Catherine Wines

Co-Founder, Director
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WorldRemit Office Locations

WorldRemit has offices in London, Denver, Miami, Sydney and in 6 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
Show all (10)

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

a year 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 $900 m.
View all funding rounds

WorldRemit Revenue

Embed Graph
View revenue for all periods
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

900.0m

Cash (31-Dec-2018)

45.6m

EV

895.4m
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

86.4k1.2m5.5m15.2m26.8m41.1m60.5m85.8m

Revenue growth, %

1308%355%174%77%53%47%

Cost of goods sold

30.0k632.0k2.5m7.0m11.5m16.8m25.0m35.7m

Gross profit

56.4k584.8k3.0m8.2m15.3m24.3m35.5m50.1m
show all
GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

172.6k256.7k440.1k1.7m7.9m16.1m28.7m58.0m45.6m

Accounts Receivable

20.2k313.0974.8k2.6m

Inventories

Current Assets

192.8k942.6k1.3m4.0m17.7m37.3m47.6m82.9m72.9m
show all
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 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)5.7m11.2m(40.6m)

Cash From Investing Activities

(7.3m)

Cash From Financing Activities

22.3m40.6m10.5m25.7m35.5m
show all
GBPY, 2018

EV/EBIT

23 x

EV/CFO

-22.1 x

Revenue/Employee

223.6k

Debt/Equity

8.7 x

Debt/Assets

0.5 x

Financial Leverage

18.1 x
Show all financial metrics

WorldRemit Operating Metrics

WorldRemit's Users was reported to be 2 m in Dec, 2017.
FY, 2015FY, 2016Dec, 2017Jun, 2018

Countries

148

Transactions

3.50 m5.40 m

Users

2 m
Show all operating metrics

WorldRemit Online and Social Media Presence

WorldRemit's Trends

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WorldRemit News and Updates

May 21, 2020

WorldRemit traps Onfido for identity verification

WorldRemit has today announced a new partnership with Onfido, the global identity verification and a...
April 16, 2020

WorldRemit gifts £400,000 to NHS workers in the UK

WorldRemit says ‘thank you’ to NHS workers who selflessly look after our loved ones, by helping them...
February 25, 2020

City Moves for 25 February - Who's switching jobs at WorldRemit, Workspace and Hines?

Today’s City Moves includes WorldRemit, Workspace and Hines WorldRemit Mobile payments company WorldRemit has appointed Ian Cafferky as chief marketing The post City Moves for 25 February - Who's switching jobs at WorldRemit, Workspace and Hines? appeared first on CityAM.
February 21, 2020

Varo Money is partnering with digital remittance provider WorldRemit for overseas transfers

This story was delivered to Business Insider Intelligence Banking subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here. The San Francisco-based neobank is partnering with WorldRemit to give customers …
February 06, 2020

WorldRemit enters global remittance partnership with Alipay

WorldRemit has announced a partnership with Alipay, enabling consumers to use the WorldRemit app or...
January 23, 2020

WorldRemit forms global remittance partnership with Alipay

WorldRemit has announced a partnership with Alipay, the world's leading payment and lifestyle platfo...
Show more

 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 Mary Barnes.

  • How many employees does WorldRemit have?

    WorldRemit has 687 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 £124.9 k.

  • Who are WorldRemit competitors?

    Competitors of WorldRemit include Satabank, Token.io and Revolut.

  • 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 6 other locations.

  • How many offices does WorldRemit have?

    WorldRemit has 10 offices.