Nigeria in Diaspora can now send money to their loved ones in Nigeria for instant pick up as WorldRemit, a financial technology company expands its operations into the country.
”Users in more than 50 countries can use the app to send to Nigeria”, the company announced the service that lets people send money to more than 140 cash pickup locations across the country.
Recipients can collect money instantly from 140 branches of Skye Bank says WorldRemit whose customers currently send over 400,000 transactions monthly.
WorldRemit says it offers a convenient mobile service and low minimum fees, allowing people to send smaller amounts, more frequently with fees for transfers to Nigeria starting at 0.95 EUR and 0.99 GBP respectively.
According to the World Bank. Nigerians living abroad sent home $20.8 billion in 2015, by far the largest volume of remittances to any country in Africa and the sixth largest in the world.
“Gone are the days of queuing in line at a high-street transfer shop and waiting several days for a money transfer to arrive. At WorldRemit, we offer people a choice of the most convenient ways to send and receive money. Today, Nigerians can use our app or website to send money to a bank account or cash pickup location, instantly”, Ismail Ahmed, WorldRemit’s CEO & Founder, says.
”WorldRemit has raised more than $140m so far from early backers of Facebook, Spotifyand Netflix”,the company said in a statement sent to Technology Times.
In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures, early investors of Facebook, Spotify, and Dropbox, the company says.