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Fintech

World Remit raises extra $45 million in financing

Silicon Valley funding comes despite signs that fintech investments are cooling off

World Remit targets the vast market dominated by incumbents Western Union and MoneyGram
World Remit targets the vast market dominated by incumbents Western Union and MoneyGram Photo: iStock

A London-based fintech startup that is seeking to change the way workers from abroad send money home has raised $45 million in debt funding from the US venture capital firm TriplePoint Venture Growth BDC and Silicon Valley Bank, as signs emerge of a potential cooling off in fintech investments.

Money transfer startup World Remit announced on February 10 that it had raised new funding to support its growth by strengthening its network of partnerships.

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