Red Herring

THE BUSINESS OF TECHNOLOGY

  • Startups
  • Mobile
  • Enterprise
  • Consumer
  • Social
  • Events

Xoom, the Money Transfer Company, Lands $25 M from Sequoia

January 30, 2012

Xoom, the money transfer company, recently scored a $25 million round from Sequoia, according to a File D filed with the SEC. Keith Rabois, CEO of the payments service Square, also participated in the round.

Xoom enables users from 30 different countries to transfer money with each other without the need of a bank account. Users instead use a credit or debit card, as well as bank account transfers. The company charges fees according to the country and the size of the transaction.

This latest round of funding backs up a $33 million round close in March of 2010, which included investors from DAG ventures, Fidelity Ventures, and New Enterprise Associates.

The company’s competition includes Western Union and Skrill. Xoom claims to be the world’s fastest growing online money transfer service.

This past November, Xoom launched an online international money transfer service through Wallmart.com, which allows money to be picked up in cash or deposited into bank accounts. It also initiated a service that allows money transfers to any UK bank account in less than an hour.

  • 
  • 
  • 
  • 

Filed Under: Finance, Internet

Related Articles

  • U.K. Introduces Bill Boosting Regulator Power to Curb Big Tech Competition Abuses
  • U.S. Accuses Google of Abusing Ad Tech Monopoly 
  • Interpol Issues Arrest Notice for Crypto Founder 

Widget Spacer

Top 100

The Red Herring Top 100 awards highlights the most exciting startups from Asia, Europe and the Americas.

Learn More

Upcoming Events

  • Top 100 Asia

  • Top 100 North America

  • Top 100 Europe

Widget Spacer

Guest Column

What is a Learning Management System?

Rouben David, of CourseForMe.com, outlines the features and benefits of

Widget Spacer

Subscribe

Subscribe now to get event news and updates delivered right to your inbox:

Widget Spacer

#DigitalHerring Tweet

My Tweets
  • About
  • Press & Media
  • Contact Us
Red Herring LinkedInRed Herring Facebook

Copyright © · Red Herring, Inc.

Copyright © 2025 · Red Herring Theme on Genesis Framework · WordPress · Log in