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Mobile Payments

WorldRemit raises USD 175 mln in Series D funding round

Tuesday 4 June 2019 | 08:31 AM CET

Mobile payments startup WorldRemit has entered into a definitive agreement to raise USD 175 million in a Series D funding round.

The round was led by returning investors TCV, Accel, and Leapfrog Investments. Founded in 2010, WorldRemit provides mobile and online payments and serves almost 4 million customers transferring money from 50 'sender' countries to 150 'recipient' countries.

The Series D funding round comes at an important stage in the company’s growth. With this new investment, WorldRemit aims to drive global growth and diversify the company’s product offering for both money transfer senders and recipients.

Moreover, the company is set to launch a new money transfer solution targeting small and medium-sized business owners who trade internationally, especially in emerging markets. The transaction is subject to customary closing conditions, including FCA approval.

More: Link
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