OverviewSuggest Edit

WorldRemit is a company that develops an online service that lets customers send money. Its platform allows users to transfer money to their friends and family living abroad, using a computer, smartphone or tablet. Money can be received as a bank deposit, cash pick-up, mobile money or mobile airtime top-up.
TypePrivate
Founded2010
HQLondon, GB
Websiteworldremit.com
Employee Ratings2.7
Overall CultureC+

Latest Updates

Employees (est.) (Jul 2021)843(+2%)
Job Openings126
Revenue (FY, 2018)£85.8 M(+42%)

Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder & Non-Executive Chairman
Jonathan Addis

Jonathan Addis

Independent Non-Executive Director
Breon Corcoran

Breon Corcoran

Chief Executive Officer
Paul Vogel

Paul Vogel

Non-Executive Director and Head of Audit Committee
Andras Mecser

Andras Mecser

Group Chief Financial Officer
Richard Davies

Richard Davies

Director
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WorldRemit Office Locations

WorldRemit has offices in London, Denver, Miami, Sydney and in 6 other locations
London, GB (HQ)
62 Buckingham Gate, Westminster
Sydney, AU
Level 23/1 O'Connell St
Saint-Gilles, BE
Place Marcel Broodthaers 8
Toronto, CA
2 Bloor St W suite 700, suite 2400
港区, JP
12/F Ark Mori Building, 1-12-32, Akasaka, Minato-ku
Auckland, NZ
41 Shortland St
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WorldRemit Financials and Metrics

Summary Metrics

Founding Date

2010

WorldRemit total Funding

$407.7 m

WorldRemit latest funding size

$175 m

Time since last funding

2 years ago

WorldRemit investors

WorldRemit's latest funding round in June 2019 was reported to be $175 m. In total, WorldRemit has raised $407.7 m. WorldRemit's latest valuation is reported to be $1.5 b.
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WorldRemit Revenue

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WorldRemit's revenue was reported to be £85.83 m in FY, 2018
GBP

Revenue (FY, 2018)

85.8m

Gross profit (FY, 2018)

50.1m

Gross profit margin (FY, 2018), %

58.4%

Net income (FY, 2018)

(44.8m)

EBIT (FY, 2018)

38.9m

Market valuation

1.5b

Cash (31-Dec-2018)

45.6m

EV

1.5b
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

86.4k1.2m5.5m15.2m26.8m41.1m60.5m85.8m

Revenue growth, %

1308%355%174%77%53%47%

Cost of goods sold

30.0k632.0k2.5m7.0m11.5m16.8m25.0m35.7m

Gross profit

56.4k584.8k3.0m8.2m15.3m24.3m35.5m50.1m
GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

172.6k256.7k440.1k1.7m7.9m16.1m28.7m58.0m45.6m

Accounts Receivable

20.2k313.0974.8k2.6m

Inventories

Current Assets

192.8k942.6k1.3m4.0m17.7m37.3m47.6m82.9m72.9m
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(612.1k)(747.7k)(2.0m)(10.2m)(18.2m)(15.2m)(19.5m)

Cash From Operating Activities

(14.4m)(25.2m)5.7m11.2m(40.6m)

Cash From Investing Activities

(7.3m)

Cash From Financing Activities

22.3m40.6m10.5m25.7m35.5m
GBPFY, 2010

Financial Leverage

1.1 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

3.5 m5.4 m

Users

2 m
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WorldRemit Acquisitions / Subsidiaries

Company NameDateDeal Size
SendwaveAugust 26, 2020$500 m

WorldRemit Online and Social Media Presence

Embed Graph

WorldRemit Company Culture

  • Overall Culture

    C+

    69/100

  • CEO Rating

    D+

    63/100

  • Compensation

    A

    82/100

Learn more on Comparably

WorldRemit News and Updates

WorldRemit founder Ismail Ahmed launches Sahamiye Foundation to tackle Somaliland's development challenges and unlock entrepreneurial potential

LONDON and HARGEISA, Somaliland, April 7, 2021 /PRNewswire/ -- A team led by WorldRemit founder Ismail Ahmed has today launched Sahamiye Foundation, a philanthropic organisation focused on using technology and innovation to tackle Somaliland's most pressing development challenges. Over...

WorldRemit launches transfer tracker app

WorldRemit, a leading global digital payments company, has launched The WorldRemit Transfer Tracker mobile App for recipients of money transfers which allows them to track their remittances.

WorldRemit Launches Inaugural List of Influential Latinos in the U.S.

DENVER, Sept. 15, 2020 /PRNewswire-HISPANIC PR WIRE/ -- WorldRemit, a leading digital payments platform, has launched the inaugural List of Influential Latinos in the United States, in celebration of Hispanic Heritage Month this year. This year's celebrations will not include in-person...

WorldRemit to acquire Sendwave

WorldRemit is to acquire Africa-focused remittance app Sendwave in a cash and stock transaction that will value the combined company at $1.5 billion.

WorldRemit Becomes the First Money Transfer Company to Partner with albo and Klar

MEXICO CITY, Aug. 13, 2020 /PRNewswire-HISPANIC PR WIRE/ -- WorldRemit, a leading international payments company has entered into partnerships with two of Mexico's fastest growing neobanks, albo and Klar. "We are excited to launch these services to give people more remittance options to...

WorldRemit traps Onfido for identity verification

WorldRemit has today announced a new partnership with Onfido, the global identity verification and a...
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WorldRemit Blogs

9 things you didn’t know about Colombia

Colombia’s Independence Day is celebrated on the 20th July, commemorating the date in 1819 when the country declared independence from Spain.

Tukiya flys four flags. How many do you fly?

I was born in the UK, and I definitely see myself as being a Londoner and being British, one hundred percent. But the other thing is being Zambian.

WorldRemit x Bangla Gardens Iftar

Throughout Ramadan, we teamed up with New York’s Bangla Gardens restaurant to provide Iftar meals to New York’s taxi drivers, whose schedules meant that they might not be able to have this sundown meal with their families. We spoke to the restaurant’s owner, Kawzaruz Zaman, about the

4 money transfer scams to beware of in 2021

WorldRemit takes online security very seriously and understands many of the tricks and techniques behind the most popular scams.

An introduction to I Fly Two Flags

I Fly Two Flags, international migrants, mixed heritages, community

How our people celebrate Eid al-Fitr

Ramadan 2021, WorldRemit, Eid al-Fitr 2021
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WorldRemit Frequently Asked Questions

  • When was WorldRemit founded?

    WorldRemit was founded in 2010.

  • Who are WorldRemit key executives?

    WorldRemit's key executives are Ismail Ahmed, Jonathan Addis and Breon Corcoran.

  • How many employees does WorldRemit have?

    WorldRemit has 843 employees.

  • What is WorldRemit revenue?

    Latest WorldRemit annual revenue is £85.8 m.

  • What is WorldRemit revenue per employee?

    Latest WorldRemit revenue per employee is £101.8 k.

  • Who are WorldRemit competitors?

    Competitors of WorldRemit include MoneyGram, Small World Financial Services and Azimo.

  • Where is WorldRemit headquarters?

    WorldRemit headquarters is located at 62 Buckingham Gate, Westminster, London.

  • Where are WorldRemit offices?

    WorldRemit has offices in London, Denver, Miami, Sydney and in 6 other locations.

  • How many offices does WorldRemit have?

    WorldRemit has 10 offices.