U.K. online money transfer company, World Remit, is buying Africa-focused, app-based remittance firm Sendwave. The combined company will be valued at more than $1.5b. WorldRemit and Sendwave have increased their combined revenues by more than 50% to $280m in the 12 months ending in June compared with a year earlier, as their customers conducted about $7.5b in transfers, the companies said.