The international remittance services, WorldRemit has launched a new digital money transfer service which will be unveil in Kenya, Rwanda, Tanzania and Uganda.
WorldRemit’s CEO and Co-founder, Ismail Ahmed said, “Just as WorldRemit has revolutionized the way people send money from developed countries, our vision is to do the same within Africa.
From the frequent traveler, who works in different countries, to the small business owner buying goods abroad, our new fast service will offer the benefits of lower cost and greater convenience.” He said.
This service is expected to reduce the cost of sending money across borders which has been a major hurdle to regional integration.
See Also: South Africa’s Yoco Raises US$16-million in Series-B Round Fund
The company was founded by Ismail Ahmed and supported by venture capital companies; Accel Partners and Technology Crossover ventures while recording transfers of more than $1.6 billion at an annualized rate to the region.
With customers sending transfers from over 50 countries to over 145 destinations globally, the firm prides itself to having quick, secure and low-cost transfers providing SME’s an alternative to costly traditional money transfer systems.
More Tech Stories:
- Kenya to Host First Africa Web Rangers Summit
- 9 Senegalese Start-ups to Pitch at Seedstars Dakar
- Meet the Agritech Founders Who Are Unlocking Africa’s AgriBusiness Potential
- Tanzania’s Start-up, Nala Wins Ecobank Fintech Challenge 2018
- Republic of Benin Joins Uganda, Zambia In Taxing Its Citizens For Internet
