The global remittance market is showing no sign of slowing. showed that remittances — payments made by individuals working abroad to someone in their home country — hit $689 billion in 2018, representing a year-on-year increase of around 10%.
For context, remittances , serving as a crucial facet of international development financing.
And it’s against that backdrop that we’ve seen a slew of investments into companies that help people move their money between countries. The latest is London-based , which has just announced a $175 million series D round, led by Accel, TCV, and Leapfrog Investments. This takes the company’s total funding to more than $400 million, and follows its from back in 2017.
Founded in 2010, WorldRemit targets migrants with a global money-transfer service