WorldRemit Gets $40 Million From Accel to Take On Western Union
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WorldRemit Ltd., an online money-transfer service that lets people send cash across the globe, raised $40 million from Accel Partners to help the company take on Western Union Co. and MoneyGram International Inc.
Accel is the first institutional investor in the London-based company, which previously raised $7.5 million from individuals, said Chief Executive Officer Ismail Ahmed. Harry Nelis, a partner at Accel, will join the board.