Ismail Ahmed EMBA2010 founded WorldRemit, an online money transfer firm, at London Business School in 2009. Just three years later, it was named the best European money transfer company by the International Association of Money Transfer Networks. The company raised US$100 million in a funding round in 2015 and has increased its staff to 200 people in the UK, the US and Australia.
Before setting-up his own business, Ahmed worked for the United Nations Remittance Programme, helping African money transfer companies comply with anti-money laundering rules. His first job was for a World Bank agricultural development project when he was still living in Hargeisa, Somaliland, which saw him gain a World Bank scholarship to study in the UK.
Ahmed holds an MSc and PhD from the University of London. He won the entrepreneurship award at the Somali Achievement Awards in 2010. He received the Accomplished Entrepreneur Award in 2014.
Remittances sent around the world from workers abroad amount to nearly $600 bn. But the system is often unfair and costly. Ismail Ahmed’s new venture has a solution.
London Business School alumnus Ismail Ahmed has secured a £24 million ($40 million) investment for WorldRemit, a global online money-transfer service.
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Money transfer app WorldRemit ranked number one in UK Fast 50