WorldRemit

WorldRemit was founded in 2010 by Ismail Ahmed, a former compliance advisor to the United Nations Development Programme, Catherine Wines and Richard Igoe. In October 2018, the company announced that they would be bringing in Breon Corcoran as CEO. == Operations ==

WorldRemit focuses on cross border remittance money transfers from over 50 countries to over 130 countries around the world. For those receiving money, it offers pay out options including bank deposit, mobile money, mobile airtime top-up and cash pick-up as well as cash delivery. The firm has a network of more than 5,000 corridors. It is connected to mobile money services globally, including Zaad (Somaliland/Northern Somalia), M-Pesa (Kenya), MTN (Africa and Asia), and bKash (Bangladesh). As of October 2019, it can send funds to 115 different countries; this includes all African countries except for Sudan, South Sudan, Eswatini, Eritrea, Libya, and Algeria. == Funding ==

WorldRemit is backed by venture capital companies Accel and Technology Crossover Ventures (TCV). In February 2015, the firm announced a $100m Series B funding round led by TCV. It was also announced that TCV General Partner John Rosenberg would join its board. In 2017, the firm received $40 million in their Series C round of funding, with LeapFrog Investments as the lead investor. In 2019, it raised a $175 million Series D funding round, led by TCV, Accel, and Leapfrog Investments. == Sanctions for illegal practices with Sendwave app ==

In 2023 the Consumer Financial Protection Bureau found that Chime Inc, a WorldRemit subsidiary which operates Sendwave, had violated the Electronic Fund Transfer Act and the CFPB Remittance Transfer Rule. ==References==