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, GB
Websiteworldremit.com
Employee Ratings2.7
Overall CultureD

Latest Updates

Employees (est.) (Apr 2022)986
Job Openings74
Revenue (FY, 2018)£85.8 M(+42%)
Cybersecurity ratingBMore
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Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder, Chairman
Jonathan Addis

Jonathan Addis

Independent Non-Executive Director
Breon Corcoran

Breon Corcoran

Chief Executive Officer
Paul Vogel

Paul Vogel

Non-Executive Director , Head of Audit Committee
Andras Mecser

Andras Mecser

Group Chief Financial Officer
Richard Davies

Richard Davies

Non Executive Director
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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
Show all (9)

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

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.
View all funding rounds

WorldRemit Revenue

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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
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
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
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
GBPFY, 2010

Financial Leverage

1.1 x
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WorldRemit Operating Metrics

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

Countries

148

Transactions

3.5 m5.4 m

Users

2 m
Show all operating metrics

WorldRemit Acquisitions / Subsidiaries

Company NameDateDeal Size
SendwaveAugust 26, 2020$500 m

WorldRemit Cybersecurity Score

Cybersecurity ratingPremium dataset

B

86/100

SecurityScorecard logo

WorldRemit Online and Social Media Presence

Embed Graph

WorldRemit Company Culture

  • Overall Culture

    D

    62/100

  • CEO Rating

    F

    50/100

  • Compensation

    B

    73/100

Learn more on Comparably

WorldRemit News and Updates

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.

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…

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.

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...

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.

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...
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WorldRemit Blogs

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.

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.

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.

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

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.

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.
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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.