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WorldRemit launches money transfers to Bulgaria

London, May 11, 2015:  Online money transfer service WorldRemit today launches transfers direct to bank accounts in Bulgaria. Customers can now send money straight to the bank accounts of friends and family in Bulgaria in the currency of their send location or in Bulgarian leva.

WorldRemit provides a quick, convenient, and low-cost way for people to send money to friends and family abroad. People in 50 countries can send money to more than 120 destinations. Customers can use WorldRemit anytime, anywhere, on their smartphone, tablet, or computer.

Remittances are estimated to have contributed $1,719m to the Bulgarian economy in 2014, according to the World Bank. Turkey, Spain, Germany, and the United States are some of the biggest senders of remittances to Bulgaria.

Ismail Ahmed, Founder and CEO of WorldRemit said: “There’s now a convenient and low-cost way for people to send money to friends and family in Bulgaria. At WorldRemit we’re committed to pricing transparency – by allowing transfers in leva, customers can be confident that what they send will be what is received.”

In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures.

ENDS

  Note to editors

  •  WorldRemit’s logo is saved  here.
  • WorldRemit currently enables 250,000 transactions per month

About WorldRemit

WorldRemit is an online service that lets people send money to friends and family in other countries. Customers can use WorldRemit anywhere, anytime on their smartphone, tablet or computer. For those receiving money, WorldRemit offers a range of options including bank deposit, cash collection, Mobile Money, and mobile airtime top-up.

With low fees and guaranteed exchange rates, WorldRemit is bringing fair, transparent pricing to the money transfer industry. The service is available in 50 countries and sends to more than 120 receive countries.

WorldRemit received a $40m Series A funding round in 2014 from Accel Partners and a $100m Series B funding round led by Technology Crossover Ventures in 2015. WorldRemit’s global headquarters are in London, UK with regional offices in USA, Canada, Australia and New Zealand.

Media contact: media@worldremit.com

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