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 | A+ | More |
Recent NewsAll News
Key People/Management at WorldRemit
Ismail Ahmed
Founder & Non-Executive Chairman
Jonathan Addis
Independent Non-Executive Director
Breon Corcoran
Chief Executive Officer
Paul Vogel
Non-Executive Director and Head of Audit Committee
Andras Mecser
Group Chief Financial Officer
Sophie Krishnan
Chief Operations Officer
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
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 | 2 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
28.52k Twitter followers
WorldRemit has 28.52k Twitter Followers. The number of followers has increased 1.5% month over month and increased 8.4% quarter over quarter
WorldRemit's Trends
Twitter Engagement Stats for @worldremit
6k
Tweets
890
Following
28.5k
Followers
329
Tweets last 30 days
0.9
Avg. likes per Tweet
37.1%
Tweets with engagement
WorldRemit Company Culture
Overall Culture
A+
93/100
CEO Rating
A+
90/100
Compensation
A+
100/100
WorldRemit News and Updates
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...
August 26, 2020
WorldRemit to acquire Sendwave
WorldRemit is to acquire Africa-focused remittance app Sendwave in a cash and stock transaction that will value the combined company at $1.5 billion.
August 13, 2020
WorldRemit Becomes the First Money Transfer Company to Partner with albo and Klar
MEXICO CITY, Aug. 13, 2020 /PRNewswire-HISPANIC PR WIRE/ -- WorldRemit, a leading international payments company has entered into partnerships with two of Mexico's fastest growing neobanks, albo and Klar. "We are excited to launch these services to give people more remittance options to...
May 21, 2020
WorldRemit traps Onfido for identity verification
WorldRemit has today announced a new partnership with Onfido, the global identity verification and a...
WorldRemit Blogs
April 29, 2021
How Mother’s Day is celebrated around the world
Mother’s Day, WorldRemit, celebrated around the world
April 28, 2021
WorldRemit app named best for international money transfers
WorldRemit, money transfers, best app, international money transfers
March 08, 2021
International Women's Day #ChooseToChallenge
Happy International Women's Day! A significant day in the global calendar when the world celebrates the social, economic, cultural and political achievements of women. A day that also crucially calls for the acceleration of gender parity.
WorldRemit wholeheartedly embraces IWD and its theme
March 01, 2021
Interview with Afua Osei: The powerhouse behind She Leads Africa
We spoke to Afua Osei, the award-winning co-founder of She Leads Africa, about the opportunities she creates for over 800.000 women worldwide.
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 803 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 £106.9 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 6 other locations.
How many offices does WorldRemit have?
WorldRemit has 10 offices.
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