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WorldRemit Completes Sendwave Acquisition And Appoints Two Executives To Its Management Team

16/2/2021 | 3 minute read

Seasoned Veterans Join As WorldRemit’s Global Payments Network Processed c.$10 Billion In 2020

WorldRemit, the digital, global cross-border payments company today announced that it has completed its acquisition of Sendwave and announced that the combined companies processed circa US$10 billion in transfers in 2020.  In addition, the company announced the appointment of Michael Ball as WorldRemit Group CFO and Arnaud Loiseau as WorldRemit CEO, International. 

“I’m delighted Michael and Arnaud have decided to join WorldRemit as we continue to grow,” said Breon Corcoran, CEO of WorldRemit. “WorldRemit’s aim is to give our customers access to fair prices and a fast, safe way to send money globally, and to do that we need strong commercial expertise. I’m looking forward to working with Michael and Arnaud to serve more customers.”

Michael Ball, who previously served as Group CFO of Travelex between 2011-2016, has over 30 years’ experience in corporate finance.  He joins from Sysco Europe, where he also served as Group CFO. Michael says, “I’m delighted to be joining WorldRemit at this exciting time. The size of the market opportunity and WorldRemit’s strong recent growth means the group is well-placed for an exciting future”.

Arnaud has over 18 years of experience in various senior management, corporate development and co-founder roles in consumer digital industries, most recently at King, the developer of Candy Crush ($7Bn IPO on Nasdaq in 2014 and subsequently acquired by Activision Blizzard). Arnaud joined King pre-IPO and held various roles, latterly as Vice President - Publishing, New Games, Corporate Development and Competitive Intelligence.

Arnaud says, “There is a huge opportunity ahead for WorldRemit to help more people send money quickly and securely anywhere around the globe."

In 2020 WorldRemit sent over 50 million customer payments worth approximately US $10 billion in total. WorldRemit holds licences to send money from more than 50 countries, including recently-added Tanzania, Rwanda and Belgium. 

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.

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