Economics

Refugee Turned Fintech Chief Aims to Upend a $444 Billion Market

WorldRemit uses mobile money to make inroads in remittances
Biggest challenge is keeping digital cash away from terrorists

Ismail Ahmed.
Photographer: Chris Ratcliffe/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Edward Robinson

May 9, 2017 at 4:00 AM UTC

This article is for subscribers only.

Refugee, economist, whistle-blower, entrepreneur -- Ismail Ahmed has played many roles in his odyssey from war-torn Somalia to London’s fintech frontier.

But one event stands out: In February 2010, he used a $200,000 settlement from the United Nations to start online money-transfer company WorldRemit Ltd. It has since raised more than $145 million and today sends cash to 142 countries.