OverviewSuggest Edit
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 | |
| Founded | 2010 | |
| HQ | Greater London, GB | Map |
| Website | worldremit.com | |
| Employee Ratings | More |
Recent NewsAll News
- WorldRemit boosts presence in Bangladesh
- WorldRemit appoints Daniel Canning as first North America MD
- Digital Remittance in Poland Market 2018 Analysis By Key Players – Western Union, Ria Financial Services, PayPal/Xoom , TransferWise, WorldRemit, MoneyGram
- Online Money Transfer Startup WorldRemit Appoints Former Gambling Boss as New CEO
Key People/Management at WorldRemit
Ismail Ahmed
Founder & Chief Executive Officer
Ian Cole
Group Chief Financial Officer
Russ Thornton
Chief Technology Officer
Alex OShaughnessy
Chief Marketing Officer
Tamer El-Emary
Chief Commercial Officer
Brion Nazzaro
Group Compliance Director and Chief Compliance Officer USA
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WorldRemit Office Locations
WorldRemit has an office in Greater London
Greater London, GB (HQ)
62 Buckingham Gate
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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 | a year ago |
WorldRemit investors | BDC Capital Corporation, TCV, TriplePoint Venture Growth, Silicon Valley Bank, Accel Partners, Project A Ventures |
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 Revenue
WorldRemit's revenue was reported to be £60.51 m in FY, 2017
| GBP | |
|---|---|
Revenue (FY, 2017) | 60.5m |
Gross profit (FY, 2017) | 35.5m |
Gross profit margin (FY, 2017), % | 58.7% |
Net income (FY, 2017) | (19.5m) |
EBIT (FY, 2017) | (16.2m) |
Market valuation | 500.0m |
Cash (31-Dec-2017) | 58.0m |
- Source: Businessinsider, Techcrunch
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|---|---|---|
Revenue | 86.4k | 1.2m | 5.5m | 15.2m | 26.8m | 41.1m | 60.5m |
Revenue growth, % | 174% | 77% | 53% | ||||
Cost of goods sold | 30.0k | 632.0k | 2.5m | 7.0m | 11.5m | 16.8m | 25.0m |
Gross profit | 56.4k | 584.8k | 3.0m | 8.2m | 15.3m | 24.3m | 35.5m |
- Source: Businessinsider
| GBP | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|---|---|---|---|
Cash | 172.6k | 256.7k | 440.1k | 1.7m | 7.9m | 16.1m | 28.7m | 58.0m |
Accounts Receivable | 20.2k | 313.0 | 974.8k | 2.6m | ||||
Current Assets | 192.8k | 942.6k | 1.3m | 4.0m | 17.7m | 37.3m | 47.6m | 82.9m |
PP&E | 4.4k | 11.9k | 23.5k | 366.4k | 214.2k | 2.4m | 2.2m | 2.2m |
| GBP | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|---|---|---|
Net Income | (612.1k) | (747.7k) | (2.0m) | (10.2m) | (18.2m) | (15.2m) | (19.5m) |
Cash From Operating Activities | (14.4m) | (25.2m) | 5.7m | 11.2m | |||
Cash From Financing Activities | 22.3m | 40.6m | 10.5m | 25.7m | |||
Net Change in Cash | 2.0m | 8.2m | 12.0m | 29.5m |
| GBP | Y, 2017 |
|---|---|
Revenue/Employee | 217.3k |
Financial Leverage | 3.4 x |
WorldRemit Operating Metrics
WorldRemit's Users was reported to be 2 m in Dec, 2017.
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WorldRemit Online and Social Media Presence
16.38k Twitter followers
WorldRemit has 16.38k Twitter Followers. The number of followers has increased 1.2% month over month and increased 3.2% quarter over quarter
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Twitter Engagement Stats for @worldremit
3.8k
Tweets
851
Following
16.4k
Followers
99
Tweets last 30 days
2.2
Avg. likes per Tweet
46.5%
Tweets with engagement
WorldRemit News and Updates
November 27, 2018
WorldRemit boosts presence in Bangladesh
Leading digital money transfer company WorldRemit is considerably expanding its presence in Banglade...
November 14, 2018
WorldRemit appoints Daniel Canning as first North America MD
Leading digital money transfer company WorldRemit has appointed Daniel Canning to the newly-created...
November 13, 2018
Digital Remittance in Poland Market 2018 Analysis By Key Players – Western Union, Ria Financial Services, PayPal/Xoom , TransferWise, WorldRemit, MoneyGram
WiseGuyReports.Com Publish a New Market Research Report On –“ Digital Remittance in Poland Market 2018 Analysis By Key Players – Western Union, Ria Financial Services, PayPal/Xoom , TransferWise, WorldRemit, MoneyGram”. Posted via Industry Today. Follow us on Twitter @IndustryToday
October 22, 2018
Online Money Transfer Startup WorldRemit Appoints Former Gambling Boss as New CEO
Ambitious online money transfer company hires Paddy Power Betfair’s Breon Corcoran as new boss UK fintech company WorldRemit today confirmed the appointment of former Paddy Power Betfair CEO Breon Corcoran as its new Chief Executive after weekend reports that he would become the new boss of the rapi…
October 22, 2018
WorldRemit appoints Breon Corcoran as new CEO
Digital money transfer company, WorldRemit, has appointed the former CEO of the FTSE 100 company Pad...
September 18, 2018
WorldRemit links up to WhatsApp for its remittance service
Leading digital money transfer company WorldRemit has added WhatsApp notifications to its service.
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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, Ian Cole and Russ Thornton.
How many employees does WorldRemit have?
WorldRemit has 439 employees.
What is WorldRemit revenue?
Latest WorldRemit annual revenue is £60.5 m.
What is WorldRemit revenue per employee?
Latest WorldRemit revenue per employee is £137.8 k.
Who are WorldRemit competitors?
Competitors of WorldRemit include Remitly, TransferWise and Revolut.
Where is WorldRemit headquarters?
WorldRemit headquarters is located at 62 Buckingham Gate, Greater London.
Where are WorldRemit offices?
WorldRemit has an office in Greater London.
How many offices does WorldRemit have?
WorldRemit has 1 office.