Accel Partners Invests $40 Million in WorldRemit

Wednesday, March 19, 2014

William Blair & Company acted as the exclusive financial advisor to WorldRemit, a leading global online money transfer service, in connection with its $40 million investment from Accel Partners. This transaction represents one of the largest Series A venture capital funding rounds completed in Europe and extends William Blair’s long track record within the financial technology space.

Transaction Highlights:

  • High growth, disruptive business model. With its online-only, cashless business model, WorldRemit offers a more efficient, affordable, and transparent remittance alternative to traditional money transfer operators. Customers can send funds from 35 countries to families and friends in more than 100 destinations. The company currently enables more than 1.3 million remittance transactions each year with the help of more than 50 employees. WorldRemit expects to continue its rapid growth in 2014, expanding its staff to 200 employees by the end of the year.

  • Relationships and trusted guidance: William Blair helped raise WorldRemit’s profile within the investor community in the U.S. and Europe, facilitating direct access to multiple industry contacts. WorldRemit was a presenting company at William Blair’s 2013 Technology Conference in San Francisco. William Blair assisted WorldRemit in developing marketing materials and a financial model, coordinating a due diligence process and assisting with the negotiation of key transaction terms.

  • Deep sector knowledge: William Blair’s transaction team leveraged its deep knowledge of online business models and the global remittance industry to develop and articulate the merits of the investment and overall market opportunity available for WorldRemit. This marks the 111th transaction William Blair has completed in the financial technology sector since 2005.

About WorldRemit:

Based in London, WorldRemit is a global online money transfer business. Migrants and expatriates from 34 countries can make online payments to families and friends in more than 100 destinations. WorldRemit offers a wide range of options to send and receive payments.

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