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 unreasonable fees.

Money can be received as a bank deposit, cash pick-up, Mobile Money, or mobile airtime top-up.

WorldRemit’s service is available to senders in 50 countries. We offer transfers to more than 110 destinations across Europe, Asia, Africa, Australia and the Americas.

Company Growth (employees)
Type
Private
HQ
London, GB
Size (employees)
265 (est)+4%
WorldRemit is headquartered in London, GB

Key People at WorldRemit

Ismail Ahmed

Ismail Ahmed

CEO & Founder
Ian Cole

Ian Cole

CFO
Gabriella Poczo

Gabriella Poczo

CTO
Catherine Wines

Catherine Wines

COO
Jon Addis

Jon Addis

Non-Executive Director
Lee Towle

Lee Towle

Country Director Australia
Richard Meseko

Richard Meseko

Country Director Canada
Layla Kidwai

Layla Kidwai

Head of Talent

WorldRemit Office Locations

WorldRemit has offices in London, Longueuil, Belconnen, Greenwood Village and in 8 other locations
London, GB (HQ)
Kensington Centre, 66 Hammersmith Road
Greenwood Village, US
6312 South Fiddlers Green Circle, Suite 300 E
Belconnen, AU
Level 1, 7 Beissel Street
Longueuil, CA
1079, Chemin De Chambly, Suite 207

WorldRemit Data and Metrics

Summary Metrics

Total Funding

$147.7 m

Latest funding size

$100 m

Time since last funding

over 2 years

Investors

WorldRemit's latest funding round in February 2015 was reported to be $100 m. In total, WorldRemit has raised $147.7 m. WorldRemit's latest valuation is reported to be $500 m.

WorldRemit Financial Metrics

WorldRemit's revenue was reported to be £26.8 m in FY, 2015 which is a 77% increase from the previous period.
Numbers are in £, GBP

Revenue (FY, 2015)

26.8 m

Revenue growth (FY, 2014 - FY, 2015), %

77%

Gross profit (FY, 2015)

15.3 m

Gross profit margin (FY, 2015), %

57%

Net income (FY, 2015)

(18.2 m)

Market valuation

500 m

Cash (31-Dec-2015)

16.1 m
Numbers are in £, GBPFY, 2013FY, 2014FY, 2015

Revenue

5.5 m15.2 m26.8 m

Revenue growth, %

174%77%

Cost of goods sold

2.5 m7 m11.5 m

Gross profit

3 m8.2 m15.3 m

Gross profit Margin, %

54%54%57%

Operating expense total

4.9 m18.2 m34.5 m

Pre tax profit

(2 m)(10.2 m)(19.5 m)

Net Income

(2 m)(10.2 m)(18.2 m)
Numbers are in £, GBPFY, 2013FY, 2014FY, 2015

Cash

1.7 m7.9 m16.1 m

Accounts Receivable

974.8 k2.6 m

Current Assets

4 m17.7 m37.8 m

PP&E

366.4 k214.2 k2.4 m

Goodwill

13.4 k2 m6 m

Total Assets

4.4 m19.9 m46.2 m

Accounts Payable

2.6 m5.4 m5.3 m

Current Liabilities

3.3 m7.7 m14.1 m

Retained Earnings

(2 m)(10.2 m)(18.2 m)

Total Equity

392.1 k12.3 m32.2 m

Financial Leverage

11.1 x1.6 x1.4 x
Numbers are in £, GBPFY, 2014FY, 2015

Cash From Operating Activities

(14.4 m)(25.4 m)

Cash From Financing Activities

22.3 m40.6 m

Income Taxes Paid

(3 k)1.3 m
Numbers are in £, GBPY, 2015

Revenue/Employee

194.4 k

Financial Leverage

1.4 x

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