Bagging $100m: how WorldRemit is filling Africa’s remittance market gap

Founded in 2010 by Somali entrepreneur Ismail Ahmed, WorldRemit — a London-based tech startup providing low-cost international money transfers — made headlines a few weeks ago when it raised US$100-million in series B funding.

Having personally experienced the frustrations of using traditional money transfer agents, WorldRemit’s founder Ahmed set out to create a service that would use technology to improve the sending process, enhance compliance and reduce the costs for the customer.

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