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WorldRemit to Acquire Sendwave for $500 million

26Aug By AdityaNo Comments

ACQUISITION

WorldRemit to Acquire Sendwave for $500 million

LONDON, 26th Aug 2020-- Uk based global payments company WorldRemit has agreed to acquire Sendwave, a rapidly growing app-based remittance company in Africa for a $500 million cash and stock deal. Founded in 2014, Sendwave has built a leading and rapidly growing digital remittance service to East and West Africa, and this summer added Bangladesh, its first receiving market in Asia. Sendwave will continue to operate independently and retain its mobile applications, brand, management, employees and key partners. “Both WorldRemit and Sendwave share a common purpose: allowing customers to easily and cost effectively send financial support to families, friends and businesses in other countries,” said WorldRemit CEO, Breon Corcoran. “WorldRemit has one of the broadest and most accessible ...

InstaReM rebrands to Nium, World’s First Global Enterprise Payments Platform

Singapore, 30 October 2019: Leading digital cross-border payments provider InstaReM is rebranding to become part of Nium. Headquartered in Singapore, Nium is the global payments platform to enable businesses to send, spend and receive money from around the world, in addition to empowering them to develop their own products that simplify cross-border payments. Nium’s ambition is to create a world of ‘Open Money’ where everyone’s money is free for them to use whenever, wherever and however they wish. The launch of Nium was announced at the Money 2020 USA event in Las Vegas on 27 October 2019. Prajit Nanu, the India-bred Co-Founder and CEO of Nium said, “As we look to the future, our strategy is to move beyond merely creating services on our own proprietary platform. We have worked...

Visa Acquires Control of Earthport

London, United Kingdom & San Francisco, United States: Visa Inc acquired control of Earthport, a company that provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network. Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world. With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow them to easily, quickly and securely move money worldwide. Nearly $80 trillion (US) of money is sent via a wire transfer or bank account globally t...