WorldRemit was founded in 2010 and is headquartered in London, GB
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Key People/Management at WorldRemit
Ismail Ahmed
Founder & Chief Executive Officer
Russ Thornton
Chief Technology Officer
Alex OShaughnessy
Chief Marketing Officer
Ian Cole
Group Chief Financial Officer
Tamer El-Emary
Chief Partnership Officer
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 |
Total Funding | $232.7 m |
Latest funding size | $40 m |
Time since last funding | 6 months ago |
Investors | BDC Capital Corporation, TCV, TriplePoint Venture Growth, Project A Ventures, Silicon Valley Bank, Accel Partners |
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 £41.05 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 |
- Source: Businessinsider, Techcrunch
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|---|---|
Revenue | 86.4 k | 1.2 m | 5.5 m | 15.2 m | 26.8 m | 41.1 m |
Revenue growth, % | 174% | 77% | 53% | |||
Cost of goods sold | 30 k | 632 k | 2.5 m | 7 m | 11.5 m | 16.8 m |
Gross profit | 56.4 k | 584.8 k | 3 m | 8.2 m | 15.3 m | 24.3 m |
- Source: Businessinsider
| GBP | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|---|---|---|
Cash | 172.6 k | 256.7 k | 440.1 k | 1.7 m | 7.9 m | 16.1 m | 28.7 m |
Accounts Receivable | 20.2 k | 313 | 974.8 k | 2.6 m | |||
Current Assets | 192.8 k | 942.6 k | 1.3 m | 4 m | 17.7 m | 37.3 m | 47.6 m |
PP&E | 4.4 k | 11.9 k | 23.5 k | 366.4 k | 214.2 k | 2.4 m | 2.2 m |
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 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 m | 40.6 m | 10.5 m | |||
Net Change in Cash | 2 m | 8.2 m | 12 m |
| GBP | Y, 2016 |
|---|---|
Revenue/Employee | 210.4 k |
Financial Leverage | 3.1 x |
WorldRemit Operating Metrics
WorldRemit's Users was reported to be 2 m in Dec, 2017.
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WorldRemit News and Updates
April 10, 2018
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.
December 07, 2017
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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