A debt funding round in stead of equity, and valuation at last years round, anyway impressive what they are doing! Question how competition from other angles will develop!
A year after raising $100 million, London-based startup WorldRemit has picked up more funding. To compete against the likes of Western Union in the world of money transfers — and tap a remittance market that the World Bank estimates will be worth $610 billion in 2016 — the company has added another $45 million to its coffers. This latest round, a debt round from TriplePoint Venture Growth BDC Corp. and Silicon Valley Bank, will be used to expand its business both in developing markets and wealthier, mature regions like the U.S., CEO and co-founder Ismail Ahmed told TechCrunch in an interview. (In other words, WorldRemit is focusing not just on areas where money is sent, but on places where the transfers are originating, too.)