In addition to its same-day bank transfer service, WorldRemit now allows people to send money to more than 140 cash pickup locations in Nigeria. People in more than 50 countries can use the app to send to Nigeria.
Recipients can collect money from 140 branches of Skye Bank. WorldRemit customers currently send over 400,000 transactions every month. Nigerians living abroad sent home USD 20.8 billion in 2015, by far the largest volume of remittances to any country in Africa and the 6th largest in the world, according to the World Bank.
In February 2015, WorldRemit received a USD 100 million funding round led by Technology Crossover Ventures, early investors of Facebook, Spotify, and Netflix. In June 2015, WorldRemit was recognised by United Nations agency IFAD for shaking up the global money transfer industry. WorldRemit offers a mobile service allowing people to send smaller amounts, more frequently.
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