FinTech Startup WorldRemit Secures $40 Million

Online financial service WorldRemit completed $40 million in Series C financing, led by Leapfrog Ventures, with participation from Accel Partners and TCV.

WorldRemit lets users send money to friends and family living abroad using a computer, smartphone, or tablet, thereby providing a convenient, low-cost alternative to traditional money transfer companies that use high street agents and charge significant fees.

The funding will be used to expand WorldRemit’s mobile-first digital service into new markets, and deepen its investment in existing ones.