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 Economic Development News 
Tuesday, December 09 2014

Denver, CO -- WorldRemit, a London-based financial services firm, announced today the opening of its new North American headquarters and operations center in Denver in early 2015.

The office will open in January, with a staff of 100 anticipated by December 2015. WorldRemit projects its Denver staff to grow to 218 total jobs within five years.

“Denver’s position as a top city for business, startups and innovation continues to grow fervently thanks to leading firms like WorldRemit that choose to locate here,” said Denver Mayor Michael B. Hancock. “We’re extremely proud to welcome another top-notch financial tech firm, providing a growing base of primary jobs to fuel our economy.”

WorldRemit offers an online money transfer service with a global reach of more than 110 countries and is currently expanding its services to include the U.S. Last month, the company added 15 Latin American countries. Earlier this year, Accel Partners, an early backer of Facebook, Spotify and Dropbox, invested $40 million in WorldRemit.

“Denver offers the perfect combination of a highly skilled workforce, supportive local authority and idyllic location. The city is already gaining a reputation as a go-to destination for the burgeoning Financial Tech (Fintech) sector and stealing the thunder of New York and Silicon Valley,” said WorldRemit Founder and CEO Ismail Ahmed.

The firm has leased 11,126 square feet of downtown office space at 600 17th St. Denver competed with several other cities for the new headquarters.

“Innovative financial services firms like WorldRemit thrive in communities around the state, and we are thrilled that they have chosen Colorado for their North American headquarters,” said Governor John Hickenlooper. “The financial industry is a growing and prosperous one in Colorado. As the ‘Wall Street of the West,’ Colorado's Front Range is one of the few areas outside of the Northeast with a substantial financial services industry. We welcome WorldRemit to our state and look forward to their continued success.”

The Colorado Office of Economic Development & International Trade has approved incentives for WorldRemit totaling up to $3.4 million, which includes Job Growth Incentive Tax Credits and Colorado First job training grant incentives. Additionally, the Denver Office of Economic Development has pledged an estimated $110,000 of incentives, which includes support from the city’s Business Incentive Fund, business personal property tax credits, and workforce development support.

About WorldRemit
WorldRemit is an online service that lets people send money to friends and family in other countries. Customers can use WorldRemit anywhere, anytime on their computer, smartphone or tablet. For those receiving money, WorldRemit offers a range of options including bank deposit, cash collection, Mobile Money, and mobile airtime top-up. With low fees and guaranteed exchange rates, WorldRemit is bringing fair, transparent pricing to the money transfer industry. The service is available in 50 countries and sends to more than 110 receive markets. In March 2014, WorldRemit received $40 million funding from Accel Partners. WorldRemit’s global headquarters are in London, UK with regional offices in USA, Canada, Australia, New Zealand and Hong Kong.

About OED
The Denver Office of Economic Development (OED) is dedicated to advancing economic prosperity for the City of Denver, its businesses, neighborhoods and residents. Working with a wide variety of community partners, OED operates to create a local environment that stimulates balanced growth through job creation, business assistance, housing options, neighborhood redevelopment and the development of a skilled workforce.

About OEDIT
The Colorado Office of Economic Development and International Trade (OEDIT) works with statewide partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor John Hickenlooper, we strive to advance the state's economy through financial and technical assistance in support of local and regional economic development activities throughout Colorado.

Posted by: Expansion Solutions Magazine AT 11:14 am   |  Permalink   |  Email

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