Ismail Ahmed, the Somali-British entrepreneur behind WorldRemit, is transforming the way migrants worldwide send money back home.
Born and raised in Hargeisa, Somaliland, Ahmed’s journey from refugee to founder of a fintech giant is a remarkable story of resilience and innovation.
During the early years of the Somali civil war, Ismail Ahmed and his family faced immense hardships including displacement and financial insecurity.
He secretly left Somaliland in 1988 and resettled in the UK, where he worked menial jobs such as strawberry picking to support his family, who were then in a refugee camp in Ethiopia. Experiencing firsthand the costly and slow traditional methods of sending money home, Ahmed was inspired to create a more efficient alternative.
Launching WorldRemit
After earning an economics scholarship, Ahmed worked for the United Nations Development Programme in East Africa, advising on remittance and compliance issues.
He became a whistleblower exposing corruption within the UN’s Somalia programs, which cost him his job. With compensation received for unfair treatment and an MBA from London Business School, he launched WorldRemit in 2010.
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WorldRemit disrupted the remittance industry by offering an online platform that allows transfers directly to mobile wallets using smartphones. Unlike traditional banks or firms like Western Union that rely on bank-to-bank transfers, WorldRemit’s mobile-first model lowered costs and increased accessibility for those without bank accounts.
The company quickly expanded, serving millions of customers globally and facilitating transfers from 50 countries to over 150 destinations. Under Ahmed’s leadership, the company raised nearly $375 million USD in funding and achieved near unicorn status, processing billions in payments annually.
Ahmed’s vision goes beyond business: he also directs the Sahan Foundation International, aiming to uplift Somaliland communities through projects in healthcare and education.
Zepz Group
As of 2025, WorldRemit operates under Zepz Group, following its acquisition of Sendwave in 2021, and functions as part of the Zepz group business which houses both brands.
The company supports a network covering more than 5,000 corridors globally and is integrated with key mobile money services such as Zaad in Somaliland, M-Pesa in Kenya, MTN across Africa and Asia, and bKash in Bangladesh.
It predominantly serves expatriates, migrant workers, and others needing efficient international transfers, offering competitive rates and 24/7 customer support.
WorldRemit remains licensed as a Money Transmitter in various jurisdictions including the United States (e.g., New York State and Puerto Rico).
The company is privately held with substantial venture capital backing and has received nearly $922 million USD in funding over multiple rounds, achieving a valuation of around $5 billion USD in recent years.
