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Development News

WorldRemit establishes North American headquarters in Denver

Denver will be the North American headquarters of WorldRemit, a London-based financial services firm.

The firm has leased 11,126 square feet of office space at 600 17th St. in downtown Denver. It expects to open the office early next year with a staff of 100 anticipated by December 2015. The company projects its staff will grow to 218 employees 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," says Denver Mayor Michael 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 United States. 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," says Ismail Ahmed, founder and CEO of WorldRemit. "The city is already gaining a reputation as a go-to destination for the burgeoning financial tech sector and stealing the thunder of New York and Silicon Valley."

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

Contact Confluence Denver Development News Editor Margaret Jackson with tips and leads for future stories at margaret@confluence-denver.com.
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