WorldRemit

WorldRemit is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet. It is a convenient, low-cost alternative to traditional money transfer companies that use high street agents and charge high fees. Money can be received as a bank deposit, cash pick-up, mobile money or mobile airtime top-up.

Company Growth (employees)
Type
Private
HQ
London, GB
Founded
2010
Size (employees)
345 (est)+2%
WorldRemit was founded in 2010 and is headquartered in London, GB

Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder & Chief Executive Officer
Russ Thornton

Russ Thornton

Chief Technology Officer
Alex O’Shaughnessy

Alex O’Shaughnessy

Chief Marketing Officer
Ian Cole

Ian Cole

Group Chief Financial Officer
Tamer El-Emary

Tamer El-Emary

Chief Partnership Officer
Brion Nazzaro

Brion Nazzaro

Group Compliance Director and Chief Compliance Officer USA
Michael Liu

Michael Liu

Regional Director for Asia-Pacific

WorldRemit Office Locations

WorldRemit has offices in London, Longueuil, Belconnen, Greenwood Village and in 7 other locations
London, GB (HQ)
Kensington Centre, 66 Hammersmith Road
Belconnen, AU
Level 1, 7 Beissel Street
Longueuil, CA
1079, Chemin De Chambly, Suite 207
Greenwood Village, US
6312 South Fiddlers Green Circle, Suite 300E
Show all (11)

WorldRemit Financials and Metrics

Summary Metrics

Founding Date

2010

Total Funding

$232.7 m

Latest funding size

$40 m

Time since last funding

about 1 month

Investors

WorldRemit's latest funding round in December 2017 was reported to be $40 m. In total, WorldRemit has raised $232.7 m. WorldRemit's latest valuation is reported to be £500 m.

WorldRemit Financials

WorldRemit's revenue was reported to be £41.1 m in FY, 2016 which is a 53% increase from the previous period.
GBP

Revenue (FY, 2016)

41.1 m

Revenue growth (FY, 2015 - FY, 2016), %

53%

Gross profit (FY, 2016)

24.3 m

Gross profit margin (FY, 2016), %

59%

Net income (FY, 2016)

(15.2 m)

EBITDA (FY, 2016)

(7.6 m)

EBIT (FY, 2016)

(10.2 m)

Market valuation

500 m

Cash (31-Dec-2016)

28.7 m
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

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

Revenue growth, %

174%77%53%

Cost of goods sold

30 k632 k2.5 m7 m11.5 m16.8 m

Gross profit

56.4 k584.8 k3 m8.2 m15.3 m24.3 m
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(612.1 k)(747.7 k)(2 m)(10.2 m)(18.2 m)(15.2 m)

Cash From Operating Activities

(14.4 m)(25.2 m)5.7 m

Cash From Financing Activities

22.3 m40.6 m10.5 m

Net Change in Cash

2 m8.2 m12 m
    GBPY, 2016

    Revenue/Employee

    210.4 k

    Financial Leverage

    3.1 x
    Show all financial metrics

    WorldRemit Operating Metrics

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

    Transactions

    3.5 m5.4 m

    Users

    2 m
    Show all operating metrics

    WorldRemit's Web-traffic and Trends

    WorldRemit Online and Social Media Presence

    WorldRemit News and Updates

    WorldRemit attracts $40 mln Series C

    WorldRemit, a digital money transfer service, has secured $40 million in Series C funding. LeapFrog Investments led the round with participation from return backers Accel and Technology Crossover Ventures.

    WorldRemit Company Life and Culture

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