WorldRemit brings global money transfer service to the United States
London, November 19, 2014: WorldRemit, a leader in the European ‘Fintech’ revolution, announces the launch of its award-winning online money transfer service in the United States.
WorldRemit is known for its global reach of more than 110 receive countries and for offering innovative new ways of receiving transfers including Mobile Money and airtime top-ups, in addition to bank deposit and cash pickup.
The company’s move into the United States marks its most significant expansion to-date. U.S. residents send more than $50 billion annually to friends and family living overseas, making it the world’s largest sender of remittances.
WorldRemit founder and CEO, Ismail Ahmed said: “We are bringing something that people in the U.S. have not seen before; a low fees, online money transfer service that offers truly global coverage. Until now, Africa and parts of Asia have been neglected by most U.S. operators, despite significant immigrant populations.
“This is also a landmark for the European Fintech revolution which has been gathering pace over the last couple of years. To arrive in the U.S., a country known for technological and financial innovation, with a world-leading service is extremely exciting.”
The launch of WorldRemit in the United States is the latest in a series of significant expansions of the service. Earlier in November, the company added 15 Latin American countries to the list of destinations where customers can send money transfers.
In March, Accel Partners - an early backer of Facebook, Spotify and Dropbox – invested $40 million in WorldRemit, the largest ever Series A funding round for a European Fintech company.
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 computer, smartphone or tablet.
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 110 receive markets.
In March 2014, WorldRemit received $40m funding from Accel Partners.
WorldRemit’s global headquarters are in London, UK with regional offices in USA, Canada, Australia, New Zealand and Hong Kong.
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