WorldRemit brings simple, low-cost money transfers to Burundi
Online and mobile money transfer service WorldRemit launches in Burundi
London, 22 May 2015: Online and mobile money transfer service WorldRemit today launches in Burundi. Founded by Dr Ismail Ahmed, ‘the man changing the world of remittances’ according to the BBC, WorldRemit provides a quick, convenient, and low-cost way for people to send money to friends and family abroad.
People in 50 countries can use WorldRemit anytime, anywhere, on their smartphone, tablet, or computer to send money to Burundi. Recipients can collect money instantly from all branches of MGL/MUTEC.
Remittances are estimated to have contributed $51m to Burundi’s economy in 2014, according to the World Bank. Tanzania, Rwanda, and Canada are the biggest senders of remittances to Burundi.
Jeff Pietras, VP for International Product Development, WorldRemit said: “WorldRemit is revolutionising the tired world of money transfers through our online and mobile only service. People around the globe can send money instantly to Burundi with just a few clicks or taps on their smartphone and enjoy fair, transparent pricing.”
According to VentureBurn, WorldRemit “teaches an important lesson about how innovation for the sake of the customer in the developing world can be the making of a successful, global company”. In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures.
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