Remittances are driving financial inclusion thanks to mobile
The World Bank estimates remittances to be a $600bn industry. Somaliland-born founder of WorldRemit, Ismail Ahmed, believes it could be worth a lot more.
Digital X picks up $1.2m and signs deal for blockchain remittances
Australian blockchain-based software developer Digital X has raised AUS$1.62m ($1.2m) in post-IPO equity and inked a new deal with remittances company UniTeller.
WeSwap picks up £2.4m in crowdfunding campaign
Currency exchange platform WeSwap has picked up £2.4m in an equity crowdfunding round on Seedrs.
PayCommerce nabs $22m for enterprise remittance
Enterprise cross-border payments network PayCommerce has raised $22m in an investment from Tritium Partners.
Toast snaps up $1.5m for South-East Asian remittances app
Singapore-based remittances startup Toast has picked up $1.5m in a pre-Series A round led by Aetius Capital. The round also saw contribution from US VC 1776 and financial services firm Pepper Group.
CurrencyFair picks up €8m for P2P currency exchange
Peer-to-peer currency exchange marketplace CurrencyFair has closed €8m in a new round of funding. The capital comes from existing backers Octopus Ventures and Frontline Ventures.
Remitly grabs $38m to expand US remittance service
US remittances service Remitly has secured $38m in a new round of funding. The Seattle-based company offers mobile P2P remittances from the US and Canada.
TransferWise enters Asian market with Japanese launch
London-based remittances startup TransferWise is entering the Asian market and launching in Japan. It follows news that the company saw its revenues triple last year but increased it losses.
Afrimarket lands $11m for cash-to-goods remittances
Afrimarket, a cash-to-goods money transfer service focused on French-speaking Africa has raised €10m ($11m) from UK-based Global Innovation Fund and PROPARCO.
TerraPay expands in Europe with Pay2Global acquisition
Mobile international payments network TerraPay is acquiring Pay2Global in a deal that will allow it to expand around European markets. The size of the deal is undisclosed.
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