Business founded at LBS scoops top spot

Money transfer app WorldRemit ranked number one in UK Fast 50

LBS signage

A global money transfer service founded at London Business School in 2010 has been ranked number one in The UK Deloitte Technology Fast 50.

WorldRemit, a money transfer service founded by London Business School MBA graduate Ismail Ahmed, scooped the top spot in the The UK Fast 50, part of an international programme run by Deloitte.

Ismail Ahmed, who has spoken compellingly of the shortcomings of traditional money transfer services, says: “Being recognised as the UK’s fastest-growing tech company by Deloitte goes to show how far WorldRemit has come since the early days at London Business School.

“Today, we are offering money transfers fit for the 21st Century: it’s absurd that with all the advances we’ve had in global communication, remittance companies should still expect their customers to physically withdraw cash from an ATM machine, go to a high-street transfer agent, stand in line, fill out forms, and pay a punishing rate for the service.

“This industry has been stuck in the past until very recently, and has been getting away with delivering a very poor service to its customers.”

The UK Fast 50 celebrates some of the most dynamic players in all areas of technology, from internet specialists to biotech, digital media technology to life sciences, computers to semiconductors and software to telecommunications.

Kimble, which provides management solutions software to Professional Services, was also ranked in the top five. Kimble’s investors include Sussex Place Ventures, an independently managed venture capital company owned by London Business School.