Direct Remit
Direct Remit is a UK-based FCA-authorized remittance operator that sends money from the UK to 65+ countries via a mobile app, web platform, and agent network, serving expatriate families, small businesses, and retail agents in diaspora corridors.
- Company typePrivate
- Founded2015
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Direct Remit does
Direct Remit Ltd is a UK-based cross-border remittance operator incorporated in England & Wales (Company No. 10060143) and authorized by the FCA (Registration No. 764058). Founded in London in 2015, the company provides money transfer services from the United Kingdom to bank accounts, cash pickup locations, mobile wallets, and doorstep delivery points across 65+ countries through a network of 450+ banks, exchange companies, and payout partners concentrated in South Asia, the Middle East, East Africa, and other diaspora-heavy corridors.
The platform is delivered through three primary channels: a mobile-first self-serve app (iOS and Android, launched 2021), a web-based transfer platform at directremitworldwide.com (launched 2019), and a UK retail agent network supported by branch offices in Birmingham and London. Core product capabilities include a transfer tracker (PTCN, reference or account number lookup), a currency converter and rate display, beneficiary management, and AML-compliant processing with sanctions screening via third-party tools such as World-Check. The Agent Partnership Program allows UK retail outlets, exchange companies, and financial services businesses to white-label remittance services, functioning as a B2B2C acquisition channel.
Direct Remit generates revenue on a per-transaction basis through transfer fees and foreign exchange margins on currency conversions. The primary customer segments are UK-based expatriate and diaspora individuals sending money to family in home countries, with secondary segments in small businesses and retail agents. Distribution is supported by digital marketing, YouTube tutorials, app store presence, and word-of-mouth referrals. The company is privately held, with no disclosed venture capital, private equity, or institutional funding, and no publicly reported revenue or headcount growth metrics.
Direct Remit firmographics
Firmographics- Name
- Direct Remit
- Legal name
- Direct Remit Ltd
- Website
- https://directremitworldwide.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Direct Remit is a UK-based FCA-authorized remittance operator that sends money from the UK to 65+ countries via a mobile app, web platform, and agent network, serving expatriate families, small businesses, and retail agents in diaspora corridors.
- Ownership category
- akta.pro rank
Direct Remit industry classification
Industry- Product category
- Cross-border remittance services
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industries
- Consumer P2P International Remittances (FSAGAKAA), Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)
Keywords
Where Direct Remit is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Direct Remit business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Money Transfer Transaction Fees: Direct Remit charges transfer fees per transaction for each money transfer made by customers. Fees vary by destination and currency and may change from time to time without notice. Additional intermediary/correspondent/collection charges may apply at the paying end and are deducted from the transferred amount.
- Foreign Exchange Margin: Revenue is generated through exchange rate margins on currency conversions, providing competitive rates while capturing spread between buy and sell rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard money transfer service with per-transaction fees |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Direct Remit product offering
Product offeringCore offering
Direct Remit is a UK-based remittance, foreign exchange and payout network service provider that enables customers to send money from the UK to 100+ destinations. Customers initiate transfers via a mobile app (iOS/Android) or website, and beneficiaries can receive funds through bank deposit, cash pickup, mobile wallet, or cash-to-home delivery across a partner network of 450+ payout locations in 65+ countries. The company also operates an agent partnership program for UK retail outlets and financial services businesses to offer remittance services to their own customers.
Product overview
Direct Remit is a UK-based remittance, forex and payout network service offered primarily as a mobile-first platform. The core product portfolio includes the Direct Remit App (iOS/Android), Remittance Service, Cash Pickup Service, Credit to Bank Service, and Cash To Home Service. The Direct Remit App serves as the primary interface for initiating transfers, managing beneficiaries, tracking transactions, and accessing exchange rates, while the various payout services (bank deposit, cash collection, doorstep delivery) provide flexibility for how beneficiaries receive funds. Additional offerings include the Agent Partnership Program for retail businesses to offer remittance services, Transfer Tracking Service for status visibility, and Currency Converter for rate planning. The company connects customers to a global payout network of 65+ countries and 450+ network partners including banks and exchange companies across Asia, Africa, the Middle East and beyond.
Differentiator
Problem solved
Functional benefit
Products and services
- Direct Remit Mobile App Mobile application for iOS and Android that enables UK customers to send money internationally, manage beneficiaries, check exchange rates, and track transfer status from their phone.
- Remittance Service (Bank Deposit) Core money transfer service that sends funds from the UK to bank accounts across supported destinations with clear transfer flow and practical support.
- Cash Pickup Service Allows beneficiaries to collect cash transfers from designated authorized payout partners in key international corridors, including exchange houses and agents.
- Credit to Bank Service Provides a wide range of credit-to-bank account payout solutions delivered through Direct Remit's agents, exchange houses and partner banks.
- Cash To Home Service Doorstep cash delivery service for beneficiaries who need reliable cash collection through authorized partner locations in supported destinations.
- Currency Converter Exchange rate calculator and daily rate visibility tool that lets customers plan transfers and compare rates before sending money.
- Transfer Tracking Service
- Agent Partnership Program
- Direct Remit Online Platform (Website)
Quantifiable outcome
- Money transfers typically reach destination within minutes
- +1 more outcomes
Companies that use Direct Remit
Customer profileSegments4 records
Ideal customer profiles3 records
Direct Remit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
Direct Remit partnerships and signals
Strategic signalPartnerships
41 partnerships are on record, tiered core.
- ZAJIL EXCHANGEcorePayout partner in Kuwait providing cash pickup and exchange services for Direct Remit customers sending money to Kuwait.
- ALZAMIL EXCHANGE COcoreAuthorized payout partner in Kuwait for Direct Remit money transfer services.
- WALL STREET EXCHANGE COMPANYcorePayout partner in Kuwait providing exchange and transfer services.
- HAMZA EXCHANGE COcoreJordan-based payout partner for Direct Remit transfers.
- ZAMZAM EXCHANGEcoreJordan exchange company providing payout services for Direct Remit customers.
- SWISS EXCHANGEcorePayout partner in Jordan for Direct Remit remittance services.
- AL SHANAWANI EXCHANGEcoreExchange partner in Jordan providing money transfer payout services.
- MOHAMAD AL MASRI EXCHANGEcoreLebanon-based payout partner for Direct Remit transfers.
- WINGS INTERNATIONAL EXCHANGEcoreLebanon exchange company offering Direct Remit payout services.
- AL FUAD EXCHANGEcoreSyria-based payout partner for Direct Remit money transfers.
- NATIONAL EXCHANGEcoreQatar-based exchange partner providing Direct Remit payout services.
- BANQUE DU CAIREcoreEgyptian bank partner (بنك القاهرة) providing bank account payout services for Direct Remit.
- ISHTAR PTY LTDcoreAustralia-based payout partner for Direct Remit transfers.
- CASHKUSHcoreCanadian payout partner for Direct Remit money transfers.
- BABYLON MONETARY SERVICES INCcoreCanada-based monetary services company providing Direct Remit payout services.
- SABA MONEY TRANSFER AND EXCHANGEcoreSomalia-based exchange partner for Direct Remit payouts.
- AWASH BANKcoreEthiopian bank providing Direct Remit payout services.
- DJIBOUTI EXPRESS EXC COcoreDjibouti-based exchange company as Direct Remit payout partner.
- DILIP CORPORATIONcoreDjibouti payout partner for Direct Remit transfers.
- SIMBA FOREX BUREAU PLCcoreSouth Sudan-based forex bureau providing Direct Remit payout services.
- NOOR FOREX BUREAU MONEYcoreUganda-based forex bureau payout partner for Direct Remit.
- IRSAL EXCHANGEcoreSudan-based exchange company providing Direct Remit payout services.
- MEEM FINANCEcoreSudan financial services partner for Direct Remit payouts.
- REMIT EXCHANGEcoreSudan-based exchange partner for Direct Remit money transfers.
- PEOPLES BANKcoreSri Lankan bank providing Direct Remit bank account payout services.
- SEYLAN BANKcoreSri Lanka bank partner for Direct Remit transfers.
- REMIT2NEPALcoreNepal-based remittance partner providing Direct Remit payout services.
- CITY EXPRESS - NEPALcoreNepal exchange company as Direct Remit payout partner.
- POST OFFICE (Indonesia)coreIndonesia postal service partner providing Direct Remit payout services.
- ISLAMI BANK BANGLADESH LTDcoreIslamic bank in Bangladesh providing Direct Remit bank account payout services.
- BANK ASIA LIMITEDcoreBangladeshi bank partner for Direct Remit payouts.
- LAND BANK OF THE PHILIPPINEScorePhilippine government bank providing Direct Remit bank account payout services.
- ASIA UNITED BANKcorePhilippine bank partner for Direct Remit transfers.
- BPI BANK LTDcoreBank of the Philippine Islands partner for Direct Remit payouts.
- CEBUANA LHUILLIERcorePhilippine pawnshop and remittance network providing Direct Remit cash pickup services.
- UNITED BANK LIMITEDcoreMajor Pakistani bank providing Direct Remit bank account payout services.
- JS BANKcorePakistani bank partner for Direct Remit transfers.
- BANK OF PUNJABcorePunjab-based Pakistani bank providing Direct Remit payout services.
- BANK AL HABIB LTDcorePakistani bank partner for Direct Remit bank account payouts.
- ALLIED BANK LIMITEDcorePakistani bank providing Direct Remit payout services.
- MUTHOOT FINANCE LIMITEDcoreIndian non-banking financial company providing Direct Remit payout services in India, Kerala region.
Scale indicators3 records
Recent moves10 records
Expansion highlights5 records
Direct Remit competitors and assessment
Company assessmentBroad incumbents
- MoneyGram: US-headquartered global money transfer company operating digital and agent-based remittance services. Competes in overlapping corridors with a comparable mix of bank deposit and cash pickup payout options.
- Western Union: Global incumbent money transfer operator with the largest agent network worldwide. Competes in the same UK-to-emerging-market corridors via cash pickup and bank deposit, with substantially greater scale, brand and payout reach.
- Xoom (PayPal): PayPal-owned digital remittance service offering money transfers to bank accounts, cash pickup and mobile wallets across emerging markets. Overlaps with Direct Remit's mobile wallet and cash pickup offerings, particularly in Philippines and South Asia.
Direct peers
- Wise (formerly TransferWise): London-headquartered cross-border payments and remittance company offering multi-currency transfers with transparent FX pricing. Direct competitor in UK-to-emerging-market corridors with substantially larger scale and brand recognition.
- Remitly: US-based digital-first remittance company serving diaspora corridors including South Asia, Philippines and Latin America from send markets including the UK. Closely comparable mobile-first product, similar customer segments, and overlapping payout corridors.
- Sendwave: Mobile-first remittance app focused on African and Asian corridors from Western send markets. Comparable mobile-only model and similar diaspora customer base, with a corridor mix that overlaps Direct Remit's African payout network.
- WorldRemit: UK-based digital remittance company focused on mobile money transfers to emerging markets including Africa, Asia and Latin America. Direct competitor with similar mobile-first model and overlapping payout corridors (especially African and South Asian destinations).
Emerging players
- Revolut: UK-headquartered digital banking super-app that offers remittance as a feature within its broader multi-currency account offering. Increasingly competes for remittance volume through embedded transfers to bank accounts in many of Direct Remit's destination corridors.
Regional players
- Small World Money Transfer: UK- and Ireland-headquartered remittance company serving diaspora communities with strong European send market presence and similar South Asia / Philippines / Africa corridor coverage. Comparable mid-market positioning.
- Dahabshiil: Somaliland-based remittance and money services company with deep reach into the Horn of Africa and a global payout network. Comparable in its Africa corridor focus and use of cash-pickup payout partners in the same high-risk markets Direct Remit serves.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Direct Remit social profiles
Digital presenceDirect Remit compliance and trust
Trust signalCompliance8 records
Direct Remit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Direct Remit leadership team
Management profileNumber of profiles
Direct Remit funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Direct Remit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Direct Remit
What does Direct Remit do?
Direct Remit is a UK-based remittance, foreign exchange and payout network service provider that enables customers to send money from the UK to 100+ destinations. Customers initiate transfers via a mobile app (iOS/Android) or website, and beneficiaries can receive funds through bank deposit, cash pickup, mobile wallet, or cash-to-home delivery across a partner network of 450+ payout locations in 65+ countries. The company also operates an agent partnership program for UK retail outlets and financial services businesses to offer remittance services to their own customers.
Is Direct Remit a public or private company?
Direct Remit is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Direct Remit founded?
Direct Remit was founded in 2015. It employs 251 to 500 people.
Where is Direct Remit based?
Direct Remit is headquartered in London, United Kingdom, in the Europe region.
How does Direct Remit make money?
Two revenue lines are on record. Money Transfer Transaction Fees are the primary driver. The others are foreign Exchange Margin.
Who are Direct Remit's main competitors?
Broad incumbents on record are MoneyGram, Western Union and Xoom (PayPal). Direct peers are Wise (formerly TransferWise), Remitly, Sendwave and WorldRemit. Revolut is listed as an emerging player. Regional players are Small World Money Transfer and Dahabshiil.
Does Direct Remit have an API?
No public API is recorded for Direct Remit.
What industry is Direct Remit in?
Direct Remit's product category is Cross-border remittance services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAGAKAA, Consumer P2P International Remittances.