Who Owns Sendwave and How It Was Acquired

Sendwave was founded in 2012 by Ismail Ahmed, who serves as the company's CEO.

Sendwave is a mobile-based money transfer service that allows users to send money to their loved ones in over 200 countries.

The company's headquarters is located in San Francisco, California, with operations in the United States, Europe, and Africa.

Sendwave's acquisition was a significant milestone for the company, marking a major shift in its ownership structure.

Sendwave has 7 institutional investors, including some big names in the startup world.

Y Combinator is one of the investors backing Sendwave, a well-known accelerator that has helped many successful startups launch.

Valor Equity Partners is also an investor, a firm that has a history of investing in promising startups.

Initialized Capital is another institutional investor in Sendwave, a venture capital firm that has a track record of backing innovative companies.

Sendwave has 7 institutional investors.

One of these investors is Y Combinator, a well-known startup accelerator.

Sendwave also has Valor Equity Partners and Initialized Capital as investors.

These investors have likely played a role in shaping Sendwave's business strategy and growth.

Y Combinator is known for its rigorous selection process and has backed many successful startups.

Sendwave's investors have helped the company expand its services and reach more customers.

Valor Equity Partners and Initialized Capital have also contributed to Sendwave's growth and success.

WorldRemit, a global cross-border payment company, has acquired Sendwave, an Africa-focused money transfer app based in the US. The deal is expected to be finalised in the fourth quarter of 2020.

The acquisition is a strategic move by WorldRemit to expand its services in Africa, where Sendwave has a strong presence. Sendwave was founded in 2014 by Drew Durbin and Lincoln Quirk, who faced difficulties sending money to an NGO in Tanzania.

Sendwave initially focused on Kenya before expanding to serve customers who wished to transfer money to Nigeria, Ghana, and Senegal. After the acquisition, Sendwave will continue to operate independently, retaining its brand, management, employees, mobile applications, and key partners.

The acquisition is expected to bring in significant revenue for WorldRemit, which processed $7.5b in transactions through its network and Sendwave's in the last fiscal year. WorldRemit serves over 4 million clients across 150 countries and has one of the broadest and most accessible networks for money transfers globally.

The deal is reportedly worth over $500 million, making it a significant investment for WorldRemit. The acquisition is seen as a timely move by WorldRemit, given the current economic crisis caused by the coronavirus pandemic on global remittances.

Here are some key facts about the acquisition:

* Deal expected to be finalised in Q4 2020Sendwave will continue to operate independentlyWorldRemit will retain its brand, management, employees, mobile applications, and key partnersDeal reportedly worth over $500 million