Tech Track 100

After a career at the United Nations, Somali-born Ismail Ahmed, 58, founded WorldRemit in 2010. He wanted to solve a problem he had encountered while at university in London — the expense and inconvenience of sending money home to family and friends in Africa. The firm has raised $220m since 2010 to expand its online money transfer service, allowing people in more than 50 countries to send money as a bank deposit, cash pickup, mobile airtime top-up or through its Mobile Money electronic wallet to recipients in 147 countries, using a computer or mobile device rather than a high street counter service. Turnover — which represents commission — grew to £61m last year, helped by launches in America and Japan and partnerships, such as one with the National Bank of Kenya.

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Company details
ActivityOnline money transfers
LocationCentral London
Average 3 year sales growth59.07%
Latest sales £000s*61,000

If applicable:

* supplied by company † annualised figure