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Investing in London remittance startups is all the rage right now. Last month Transferwise secured $58 million on ~$1 billion valuation. The company is now putting that money to work and expanding to the US. Meanwhile its competition, WorldRemit, just announced that it has secured $100m in a Series B funding. Let's wait and see which venture fund made the correct bet. Big name funds such as Accel, TCV, Andreessen, Index and others are investors.
Transferwise has long had its eye on the US market, recently opening New York offices and securing a $58 million funding round led by Silicon Valley big hitter Andreessen Horowitz, helping to push it towards the $1 billion valuation mark... Another London-based company aiming to over-turn the traditional money transfer market, WorldRemit has announced that it has raised $100m in a Series B funding round led by Technology Crossover Ventures (TCV), with participation from existing investor Accel Partners. The company says the investment will allow it to extend its existing reach of 50 send countries and 117 receive countries, and expand partnerships with mobile money wallets operated by telecoms companies in Africa, Asia and Latin America.
http://www.finextra.com/news/fullstory.aspx?newsitemid=27009
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