Sep 11, 2009, 9:10 AM
Online and mobile money transfer service WorldRemit was on 20 May 2015 launched in The Gambia.
Founded by Dr Ismail Ahmed, ‘the man changing the world of remittances’ according to the BBC, WorldRemit provides a quick, convenient, and low-cost way for people to send money to friends and family abroad.
People in 50 countries can use WorldRemit anytime, anywhere, on their smartphone, tablet, or computer to send money to The Gambia.
Recipients can collect money instantly from branches of Easy Financial Services, M.J. Financial Services, Guaranty Trust Bank, TC Bureau de change, and Yonna Forex.
Remittances are estimated to have contributed $191m to The Gambia’s economy in 2014, according to the World Bank.
Spain, the UK, and the United States are the biggest senders of remittances to The Gambia.
Jeff Pietras, VP for International Product Development, WorldRemit said: “WorldRemit is revolutionising the tired world of money transfers through our online and mobile only service. People around the globe can send money instantly to The Gambia with just a few clicks or taps on their smartphone and enjoy fair, transparent pricing.”
According to VentureBurn, WorldRemit “teaches an important lesson about how innovation for the sake of the customer in the developing world can be the making of a successful, global company.”
In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures.