Online and mobile money transfer service WorldRemit has launched in Rwanda providing users with a quick, convenient, and low-cost way for people to send money to friends and family abroad.
In a statement, Jeff Pietras, VP for International Product Development, WorldRemit said: “WorldRemit is revolutionising the tired world of money transfers through our online and mobile only service. People around the globe can send money instantly to Rwanda with just a few clicks or taps on their smartphone and enjoy fair, transparent pricing.”
In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures.
Founded by Dr Ismail Ahmed, WorldRemit can be used in over 50 countries anytime on their smartphone, tablet, or computer to send money to Rwanda and recipients can collect money instantly from any branch of Virunga Express.
Remittances are estimated to have contributed $179m to Rwanda’s economy in 2014, according to the World Bank. The Democratic Republic of Congo, Uganda, and Burundi are the biggest senders of remittances to Rwanda. France and Canada are also major international contributors to remittances to Rwanda.