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)
317 (est)+4%
WorldRemit was founded in 2010 and is headquartered in London, GB

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

WorldRemit Financials and Metrics

Summary Metrics

Founding Date

2010

Total Funding

$187.7 m

Latest funding size

$100 m

Time since last funding

almost 3 years

Investors

WorldRemit's latest funding round in February 2015 was reported to be $100 m. In total, WorldRemit has raised $187.7 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

    FY, 2015FY, 2016

    Transactions

    3.5 m5.4 m
    Show all operating metrics

    WorldRemit's Web-traffic and Trends

    WorldRemit Online and Social Media Presence

    WorldRemit Company Life and Culture

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