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.

Type
Private
HQ
London, GB
Founded
2010
Size (employees)
386 (est)+2%
WorldRemit was founded in 2010 and is headquartered in London, GB
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Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder & Chief Executive Officer
Ian Cole

Ian Cole

Group Chief Financial Officer
Russ Thornton

Russ Thornton

Chief Technology Officer
Alex OShaughnessy

Alex OShaughnessy

Chief Marketing Officer
Tamer El-Emary

Tamer El-Emary

Chief Commercial Officer
Brion Nazzaro

Brion Nazzaro

Group Compliance Director and Chief Compliance Officer USA
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WorldRemit Office Locations

WorldRemit has offices in Greenwood Village, London, Longueuil, Belconnen 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
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WorldRemit Financials and Metrics

Summary Metrics

Founding Date

2010

WorldRemit total Funding

$232.7 m

WorldRemit latest funding size

$40 m

Time since last funding

8 months ago

WorldRemit 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.
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WorldRemit Revenue

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WorldRemit's revenue was reported to be £41.05 m in FY, 2016 which is a 53.4% increase from the previous period.
GBP

Revenue (FY, 2016)

41.1 m

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

53.4%

Gross profit (FY, 2016)

24.3 m

Gross profit margin (FY, 2016), %

59.1%

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, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

172.6 k256.7 k440.1 k1.7 m7.9 m16.1 m28.7 m

Accounts Receivable

20.2 k313 974.8 k2.6 m

Current Assets

192.8 k942.6 k1.3 m4 m17.7 m37.3 m47.6 m

PP&E

4.4 k11.9 k23.5 k366.4 k214.2 k2.4 m2.2 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
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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

3.50 m5.40 m

Users

2 m
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WorldRemit Online and Social Media Presence

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WorldRemit News and Updates

Lebara hooks up with WorldRemit in money transfer pact

LONDON (Reuters) - WorldRemit will be the exclusive money transfer partner for international call provider Lebara under a deal announced on Tuesday by the London-based brands, which are popular among immigrants to Europe.

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.
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WorldRemit Company Life and Culture

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