WorldRemit targets 40,000 Nigerian community in New York

WorldRemit has launched in New York, connecting the state’s 42,000-strong Nigerian diaspora to its fast, low cost service.

The company has been sending money to Nigeria since 2011 and handles over 100,000 transactions each month.

Nigerians make up the largest African diaspora group in the United States, and New York City is home to the largest Nigerian population, followed by Houston and Washington.

The United States (US) is the world’s biggest sender of remittance and the amount of money sent has grown from $50 billion to $66 billion over the past five years, according to the World Bank.

Regional Director of Middle East & Africa at WorldRemit, Andrew Stewart, said they are delighted to launch New York as a send location, connecting thousands of Nigerians living in the state to their family back home.

The company started its money transfer operations in the US in 2014.

With the addition of New York, the us is set to become WorldRemit’s largest send market – it is already one of the company’s fastest growing send markets with more than 200 per cent year on year growth.

Founded by entrepreneur Ismail Ahmed in 2010, Worldremit has secured $220 million in funding rounds led by Accel and TCV – early investors in Facebook, Spotify, Netflix and slack.

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