WorldRemit expands into Australia

WorldRemit expands into Australia

London-based WorldRemit, an online money transfer service which was named the UK’s fastest-growing technology company by Deloitte last year, has expanded with a new office in Australia.

The company, the latest in a string of FinTech success stories emerging from the capital, lets migrants send money instantly to their friends and family abroad.

After continued growth in Latin America, Africa and Asia, WorldRemit has now opened a new office in Australia as it looks to increase its presence in the Pacific.

Australia is the firm’s second biggest market after the UK – with customers in Australia currently sending around 80,000 transfers a month, which represents year-on-year growth of nearly 100%.

As part of the expansion, the company has appointed former executive director at UBS Investment Bank, Michael Liu, as its regional director for Asia-Pacific.

Liu said: “WorldRemit is a service that helps an often overlooked segment of the Australian population – the one in four people who have migrated here from overseas.

“I am excited to be part of a strong, fast-growing business that is also making a positive impact on financial inclusion and migrant lives.”

Ismail Ahmed, CEO and founder of WorldRemit, added: “Australia and the wider Asia-Pacific region play a critical role in our global expansion plans.

“Michael Liu’s deep knowledge of and connections with the financial sector will be invaluable as we cement our position as the leading digital money transfer service worldwide.

“Migrants in Australia already send tens of thousands of transfers to places like Ghana, Zimbabwe, India, the Philippines and the Pacific Islands.

“We see tremendous growth opportunities in sender countries such as Australia, New Zealand and Japan as well as key receiver countries across Asia-Pacific region."

WorldRemit has also recently opened an office in California and is available in 43 US states.