Emerging Trends and Challenges

WorldRemit Raises $45 mm in Debt Financing
Transaction Summary
WorldRemit’s
$45mm debt raise
follows its $100
million equity
raise on February
18, 2015, led by
Technology
Crossover
Ventures, with
participation
from Accel
Partners
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Transaction Summary
On February 10, 2016, WorldRemit announced that it had
raised a $45 million debt round of funding from
TriplePoint Venture Growth BDC Corp. and Silicon Valley
Bank
‒ Although it was not stated by the company itself, the
valuation from this new debt round is believed to be
unchanged from the $500 million that was established
with the Company’s prior $100 million equity raise (1)
WorldRemit plans to use the new funding to better
compete against other companies that offer money
transfer and remittance services / software
‒ Additionally, the new funding will help the company to
expand into new, larger, wealthier markets, such as
the U.S.
This new round brings the total amount invested in the
company, including both debt and equity, up to $185
million
Remittance Industry Overview
The World Bank estimates that over $700 billion will be
sent between family and friends in 2016
The United States is the largest remittance market,
accounting for over 10% of global remittances
– Saudi Arabia is the second largest sending market
– India is the largest receiving market followed by China,
the Philippines and Mexico
Current major players include Western Union,
MoneyGram, Ria (Euronet) and Xoom (PayPal)
In addition to WorldRemit , newer / disruptive players
include Remitly, TransferWise, Azimo and TRANSFAST,
among others
Source: Capital IQ, WorldRemit website, Company Press Release, TechCrunch.
(1)TechCrunch.
Founder & CEO:
Headquarters:
WorldRemit Overview
Ismail Ahmed
London, UK
Founded: 2009
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WorldRemit is an online money transfer service that enables
people to send money to friends and family abroad through a
computer, smartphone or tablet
The Company offers a convenient and low-cost alternative to
traditional money transfer companies; money can be received
as a bank deposit, cash pick-up, Mobile Money or mobile
airtime top-up
Services are available to senders in 50 countries and
transactions can be received in more than 110 destinations
worldwide
WorldRemit averages around 400,0000 transfers each month
and grew revenues by 56% from 2014 to 2015, increasing from
$24 million in 2014 to $39 million in 2015 (1)
Date
02/18/15 $100
03/12/14 40
Previous Equity Financings
Size
($ mm) Lead Investors
120