United Kingdom-based technology company WorldRemit has expanded to California.
Home to 25 percent of America’s migrant population, California is a natural market for a company in the mobile remittances space.
Investors certainly love WorldRemit, which has raised close to $200 million from a group including Accel Partners, Technology Crossover Ventures, TriplePoint Capital and Silicon Valley Bank. TriplePoint Capital and Silicon Valley Bank participated in a $45 million round in early February.
Of the 400,000 monthly transfers completed via WorldRemit, 100,000 are sent to mobile wallets.
“Just as WhatsApp and Skype changed the way we communicate globally, WorldRemit is modernizing our financial connections,” WorldRemit Founder and CEO Ismail Ahmed said.
“By sending to more Mobile Money services than anyone else, we are showing what the next phase of international money transfers looks like — instant transfer of money from person to person, anytime, anywhere.”
WorldRemit is now available in 43 US states, DC and Puerto Rico.