WorldRemit Launches Global Money Transfer Service in the US

WorldRemit, online service that lets people send money to friends and family in other countries has announced 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.

Ismail Ahmed, WorldRemit founder and CEO, 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 from 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.