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WorldRemit secures $100 million in funding

February 18, 2015

Money transferring service WorldRemit has raised $100 million in Series B funding led by Technology Crossover Ventures, with participation from previous backer Accel Partners. WorldRemit offers a web or smartphone-based service primarily for expatriates and migrant workers sending money to their homelands. The company will use the new funds to expand its offering beyond the current 50 ‘send’ countries and 117 ‘receive’ countries. “I am delighted that TCV is joining WorldRemit in our mission to enable the seamless movement of money between people across borders. We have an amazing opportunity to shake-up a stale industry and to save our customers time and money. We are taking money transfers into the mobile age, where people send from apps and receive on Mobile Money services,” WorldRemit founder and CEO, Ismail Ahmed said in a press release.

Gilt Groupe, a New York-based website selling clothing at a discount, has raised $50 million, Re/Code reports. Existing investors General Atlantic and a new strategic partner participated. The e-commerce company has reportedly been looking to IPO for a long time, but this latest round of funding will delay any listing further.

Betterment LLC, an automated financial adviser service, has raised $60 million from Francisco Partners and other investors, according to Reuters. The company has now raised $105 million since it was founded in 2009. Betterment uses algorithms to create portfolios of exchange-traded funds, based on client questionnaires.

Tealium, an enterprise tag management and marketing company, has closed a $30.7 million Series D financing round. Georgian Partners led the round, with participation from Bain Capital Ventures and current backers Battery Ventures, Tenaya Capital and Presidio Ventures. “Tealium’s mission is to help our customers grow their businesses by capturing and serving up real-time, 360-degree customer insight to all of their enterprise applications,” said Jeff Lunsford, CEO of Tealium. “We believe companies that will thrive in the world of the demanding, omnichannel consumer are those who can gather customer intelligence in real time, and use that intelligence to provide more relevant experiences for their customers.” Tealium is a former winner of the Red Herring Top 100 Global award.

Message Systems, an email infrastructure startup, has raised $27 million in funding from new investor Hercules Technology Growth Capital and existing backers LLR Partners and NewSpring Capital. Message Systems has also secured an $8 million line of credit from Hercules. “This funding sends a clear signal that Message Systems is extending its leadership position in email infrastructure into the cloud,” said Message Systems CEO Phillip Merrick. “Today, Message Systems provides the world’s largest senders with the most advanced email platform available on the market. In 2015, we are excited to offer the same email capabilities in use at Twitter, Groupon, LinkedIn and other leading enterprises to businesses of all sizes through our SparkPost cloud offering.”

 

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Filed Under: Finance, Investment Round Up, Startups

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