Rocket Remit

What Rocket Remit does

Rocket Remit is an international money transfer service operated by mHITs Limited, an Australian private company founded in 2004 and headquartered in Canberra. The product enables individuals in Australia, New Zealand, and the United Kingdom to send funds instantly to recipients in over 60 countries, using either a mobile number (which routes payouts through destination mobile wallets such as EcoCash, M-PESA, Airtel Money, ZaloPay, Digicel MyCash, Moov Money, and m-GURUSH) or bank account details (covering banks such as Standard Bank, Capitec, Kasikorn, SCB, Bangkok Bank, and HSBC Sri Lanka). The platform is built on mHITs' mobile payment technology, uses SMS-based identity verification and transfer authorization, and is delivered entirely through self-serve digital channels (website plus native iOS and Android apps).

Name

Rocket Remit

Legal name

mHITs Limited

Website

https://rocketremit.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Rocket Remit, operated by Australian mHITs Limited, is a digital international money transfer service enabling individuals in Australia, New Zealand, and the UK to send remittances instantly to mobile wallets and bank accounts across 60+ countries, primarily serving migrant communities and unbanked recipients in emerging markets.

Ownership category

akta.pro rank

Product category

Digital Remittance / International Money Transfer

akta.pro primary industry

Consumer P2P International Remittances (FSAGAKAA)

akta.pro secondary industries

Consumer Remittances (P2P) (FSAMAIAA), P2P Transfers & Remittances Platforms (BPAMAFAE)

Keywords

• International money transfers
• Mobile remittances
• Cross-border payments
• Digital remittance services
• Mobile wallet transfers

Headquarters

HQ city

Canberra

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. International Money Transfer Fees: Rocket Remit charges low, transparent fees on international money transfers. Fees are displayed upfront before confirmation, including exchange rate, transfer fee, and total amount the recipient receives. Transaction fees typically range from AUD 0–5 per transfer depending on destination and delivery method.
2. Foreign Exchange (FX) Spread: Revenue is generated through the exchange rate spread applied when converting sender currencies (AUD, NZD, GBP) to recipient currencies. Exchange rates are shown before transfer confirmation for full transparency.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Rocket Remit is a fully digital, self-serve international money transfer service that enables individuals in Australia, New Zealand, and the United Kingdom to send money instantly to recipients in over 60 countries using a recipient's mobile number or bank account details. Transfers are funded via debit/credit card or bank transfer and delivered directly to local mobile wallets (e.g., EcoCash, M-PESA, Airtel Money, ZaloPay) or bank accounts at the destination, with most mobile wallet transfers completing within seconds.

Product overview

Rocket Remit is a single, unified international money transfer product. It allows users to sign up online, add funds via debit/credit card or bank transfer, and send money instantly to recipients overseas using their mobile number or bank account details. The service is powered by mHITs technology and operates across Australia, New Zealand, and the UK, enabling transfers to mobile wallets and bank accounts in over 60 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Rocket Remit International Money Transfer Self-serve digital international money transfer service enabling individuals in Australia, New Zealand, and the UK to send funds instantly to recipients in 60+ countries via mobile wallets or bank accounts, using only the recipient's mobile number or bank account details. Funded by debit/credit card or bank transfer.
• Rocket Remit Mobile App (iOS and Android)

Quantifiable outcome

• Transfers arrive within seconds to mobile wallets; bank deposits typically within minutes
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core.

• mHITs (mHITs Limited)coreTechnology or IntegrationRocket Remit is powered by mHITs' award-winning mobile payment technology. mHITs is an Australian company that pioneered and deployed mobile payment technology used and trusted by millions of people globally for over 21 years. mHITs Limited trades as Rocket Remit and is the registered operator of the service.
• EcoCash (Zimbabwe)coreTechnology or IntegrationRocket Remit transfers money instantly through EcoCash mobile money in Zimbabwe, enabling recipients to receive funds directly to their mobile wallets without needing a bank account. Covers the entire country including Harare, Bulawayo, Chitungwiza, and Mutare.
• Airtel Money, MTN Mobile Money, Zamtel Mobile Money (Zambia)coreTechnology or IntegrationRocket Remit transfers money instantly through Airtel Money, MTN Mobile Money, and Zamtel Mobile Money in Zambia, covering the entire country including Kasama, Lusaka, Mansa, and Nakonde.
• ZaloPay (Vietnam)coreTechnology or IntegrationRocket Remit transfers money instantly to ZaloPay mobile wallets in Vietnam, covering the entire country including Hanoi, Ho Chi Minh City, Bien Hoa, and Da Nang.
• Vodafone M-Vatu, Digicel MyCash (Vanuatu)coreTechnology or IntegrationRocket Remit transfers money instantly through Vodafone M-Vatu and Digicel MyCash mobile money in Vanuatu, covering the entire country including Port Vila, Luganville, Norsup, and Port-Olry.
• Airtel Money, MTN Money (Uganda)coreTechnology or IntegrationRocket Remit transfers money instantly through Airtel Money and MTN Money in Uganda, covering the entire country including Kampala and Gulu.
• Digicel MyCash (Tonga)coreTechnology or IntegrationRocket Remit transfers money instantly through Digicel MyCash in Tonga, covering the entire country including Nuku'alofa, Vaini, Haveluloto, and Neiafu.
• Moov Money (Togo)coreTechnology or IntegrationRocket Remit transfers money instantly through Moov Money in Togo, covering the entire country including Sokode, Kara, Kpalime, and Atakpame.
• Airtel Money, Tigo Pesa, Vodacom M-PESA (Tanzania)coreTechnology or IntegrationRocket Remit transfers money instantly through Airtel Money, Tigo Pesa, and Vodacom M-PESA in Tanzania, covering the entire country including Dar es Salaam, Mwanza, Arusha, and Dodoma.
• m-GURUSH (South Sudan)coreTechnology or IntegrationRocket Remit transfers money instantly through m-GURUSH mobile money in South Sudan, covering the entire country including Juba, Winejok, Malakal, and Wau.
• Premier Wallet, Hormuu-EVC Telecom (Somalia)coreTechnology or IntegrationRocket Remit transfers money instantly through Premier Wallet and Hormuu-EVC Telecom in Somalia, covering the entire country including Mogadishu, Borama, Hargeysa, and Merca.
• Standard Bank, Capitec Bank, African Bank, Nedbank, FNB (South Africa)coreTechnology or IntegrationRocket Remit enables bank transfers to over 10 banks in South Africa including Standard Bank, Capitec Bank, African Bank, Nedbank, and First National Bank (FNB), covering the entire country including Cape Town, Johannesburg, Durban, and Pretoria.
• eZ Cash, Dialog (Sri Lanka)coreTechnology or IntegrationRocket Remit transfers money instantly to eZ Cash mobile money and Dialog mobile wallets in Sri Lanka, and also to over 10 bank accounts in the country including Commercial Bank of Ceylon, Sampath Bank, People's Bank, NDB Bank, and HSBC Sri Lanka.
• Kasikorn Bank, SCB Bank, Bangkok Bank, CIMB Thai Bank (Thailand)coreTechnology or IntegrationRocket Remit enables bank transfers to over 10 banks in Thailand including Kasikorn Bank, SCB Bank, Bangkok Bank, and CIMB Thai Bank, covering the entire country including Bangkok, Phuket, Chiang Mai, and Pattaya.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• WorldRemit (Zepz): WorldRemit is a digital-first international remittance platform sending money from developed markets to mobile wallets and bank accounts in emerging markets. Directly comparable to Rocket Remit on mobile-wallet payouts, instant transfers and multi-corridor coverage.
• Remitly: Remitly is a digital remittance app focused on migrants sending money from the US, UK and Canada to mobile wallets and bank accounts in Asia, Africa and Latin America. Comparable on digital self-serve model, mobile-wallet payouts and migrant diaspora targeting.
• Wise (TransferWise): Wise offers international money transfers and multi-currency accounts with mid-market FX. While broader in product, it competes head-to-head with Rocket Remit on cross-border consumer transfers from the UK and Australia, and on transparency of fees and FX.
• Sendwave: Sendwave is a mobile-first remittance app (part of Zepz alongside WorldRemit) focused on African and Asian corridors from the US, UK and Canada. Highly comparable on mobile-wallet payouts, low fees and migrant diaspora targeting.
• PaySend: PaySend is a digital cross-border payments platform offering card-to-card, account-to-account and mobile wallet transfers across 70+ countries. Comparable on digital self-serve model, multi-corridor coverage and low fixed-fee pricing.

Broad incumbents

• Western Union (Digital): Western Union is the largest global remittance incumbent with a large agent network and an expanding digital channel. Directly comparable on Australia/NZ/UK-to-emerging-markets corridors, but operates a much wider portfolio including cash pick-up.
• MoneyGram: MoneyGram is a global remittance incumbent with both retail and digital channels serving similar corridors to Rocket Remit. Overlaps on cross-border consumer transfers and mobile-wallet payouts but offers a much broader legacy agent network.
• Xoom (PayPal): Xoom is PayPal's international money transfer service, sending funds from the US, UK, Canada and EU to mobile wallets and bank accounts worldwide. Comparable on mobile-wallet payouts and digital self-serve flow, with deeper funding and brand.

Emerging players

• Revolut: Revolut is a global neobank offering international transfers, multi-currency accounts and cards. While broader in product, it competes with Rocket Remit on UK outbound remittances via its app and on transparency of FX.
• Ding (Digital Virgo): Ding is a mobile top-up and digital value transfer platform connecting diaspora senders with recipients in emerging markets. Comparable on the 'bank-account-free, mobile-number-based' recipient experience that Rocket Remit emphasises.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/rocketremit

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rocket Remit