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.
TypePrivate
Founded2010
HQGreater London, GB
Websiteworldremit.com
Employee Ratings3.5

Latest Updates

Employees (est.) (Mar 2019)439
Job Openings62
Revenue (FY, 2017)£60.5 M(+48%)

Key People/Management at WorldRemit

Ismail Ahmed

Ismail Ahmed

Founder & Chief Executive Officer
Ian Cole

Ian Cole

Group Chief Financial Officer
Russ Thornton

Russ Thornton

Chief Technology Officer
Alex OShaughnessy

Alex OShaughnessy

Chief Marketing Officer
Tamer El-Emary

Tamer El-Emary

Chief Commercial Officer
Brion Nazzaro

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

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.
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WorldRemit Revenue

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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
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

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

Revenue growth, %

174%77%53%

Cost of goods sold

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

Gross profit

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

Cash

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

Accounts Receivable

20.2k313.0974.8k2.6m

Current Assets

192.8k942.6k1.3m4.0m17.7m37.3m47.6m82.9m

PP&E

4.4k11.9k23.5k366.4k214.2k2.4m2.2m2.2m
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 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)5.7m11.2m

Cash From Financing Activities

22.3m40.6m10.5m25.7m

Net Change in Cash

2.0m8.2m12.0m29.5m
GBPY, 2017

Revenue/Employee

217.3k

Financial Leverage

3.4 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

3.50 m5.40 m

Users

2 m
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WorldRemit Online and Social Media Presence

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WorldRemit News and Updates

WorldRemit boosts presence in Bangladesh

Leading digital money transfer company WorldRemit is considerably expanding its presence in Banglade...

WorldRemit appoints Daniel Canning as first North America MD

Leading digital money transfer company WorldRemit has appointed Daniel Canning to the newly-created...

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

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…

WorldRemit appoints Breon Corcoran as new CEO

Digital money transfer company, WorldRemit, has appointed the former CEO of the FTSE 100 company Pad...

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.