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Tracxn Remittance Startup Landscape Report, July 2016

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Tracxn Remittance Startup Landscape Report, July 2016

  1. 1. Remittance Report, July 2016 Tracxn World’s Largest Startup Research Platform 2
  2. 2. Remittance Report, July 2016 Contents Topic Page No. Scope of Report 05 Entrepreneur Activity 07 Investment Trend 11 Who is Investing 19 Exit Outlook - IPO, Acquisitions 23 Sub Sector Analysis 26 Interesting Companies 41 Useful Links 50 Company List 52 Team 148 3 3
  3. 3. Remittance Report, July 20164 Illustrative Sectors We Track ENTERPRISE INFRASTRUCTURE ENTERPRISE APPLICATIONS MOBILEFINTECH TECH CONSUMER EDUCATION HEALTHCARE SECURITY STORAGE NETWORKING MOBILITY IT OPS CLOUD INFRASTRUCTURE API MANAGEMENT BIGDATA INFRASTRUCTURE SAAS MOBILE-FIRST ENT. APPS INTELLIGENT ENT. APPS OPEN SOURCE RETAIL TECH MARKETING TECH STEALTH MODE VERTICAL SAAS MOBILE COMMERCE MOBILE PAYMENTS MOBILE MARKETING MOBILE DEV TOOLS MOBILE HEALTH MOBILE GAMING MOBILE LEARNING MOBILE COMMUNICATION BITCOIN PAYMENTS INVESTMENT TECH INSURANCE TECH CROWDFUNDING ALTERNATIVE LENDING REMITTANCE BANKING TECH INTERNET OF THINGS 3D PRINTING MARKETPLACES FOOD TECH EDUCATION IT SELF LEARNING LIFE SCIENCES DIGITAL HEALTH
  4. 4. Remittance Report, July 20165 Sector Overview Scope of report The report contains companies which offer cross-border money transfer service to consumers allowing diaspora to send money back to their family in home country. It includes companies that allow businesses to transfer money across border either to pay for their supplies, employee payment disbursements etc. All companies under the scope of the report provide an online or mobile based platform to send the money, however, offline agent based money transfer companies like Western Union and its comparable are also included. The report also contains companies enabling these money transfer service providers technology wise, along with online platforms that provide comparative list to choose from money transfer service companies. Companies which provide alternative remittance services like transfer of mobile airtime & vouchers, bill payments, education payments are also included. The scope of this report includes equity as well as debt funding received by the companies. Business Model Descriptions P2P Currency Matching Currency sent either way is matched and net-off to the receiver. Local In-Local Out Banking partnerships to credit and debit locally. Rebittance Money transfer leveraging bitcoin Mobile Platform Mobile first companies allowing to receive money in mobile wallet and cash out from them E-wallet Cloud money or e-wallet to store and send money B2B Payments Cross border money transfers for enterprises Alternative Remittance Transfer of mobile airtime, bill payments directly to merchant etc. Enablers Back-end enabling solutions Aggregator Platforms that provide comparisons of money transfer businesses on the rate and their services
  5. 5. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 6 6
  6. 6. Remittance Report, July 2016 17 21 39 48 76 67 3 0 16 32 48 64 80 2010 2011 2012 2013 2014 2015 2016 (YTD) NumberofCompanies 7 YoY – Number of companies founded WorldRemit Remitly Azimo Circle Uphold Instarem Ozaremit TransferWise Kantox Currency Cloud BitPesa Abra Airwallex FinMates
  7. 7. Remittance Report, July 20168 Large Upcoming Sectors
  8. 8. Remittance Report, July 20169 Niche Upcoming Sectors
  9. 9. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 0 10
  10. 10. Remittance Report, July 201611 YoY – Number of Rounds and Total Funding $10M $38M $2M $71M $39M $72M $246M $570M $218M 3 4 3 14 15 37 41 52 22 0 12 24 36 48 60 0 120 240 360 480 600 2008 2009 2010 2011 2012 2013 2014 2015 2016 (YTD) NumberofRounds FundingAmount(inMillions) Funding Amount Number of Rounds Note: The funding includes debt rounds also.
  11. 11. Remittance Report, July 201612 YoY – Number of Rounds by Stage
  12. 12. Remittance Report, July 201613 YoY – Funding by Stage
  13. 13. Remittance Report, July 201614 Average Ticket Size – Early Stage
  14. 14. Remittance Report, July 201615 Top investments in last one year
  15. 15. Remittance Report, July 201616 Top investments in last one year
  16. 16. Remittance Report, July 201617 Funnel view of Sector
  17. 17. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 8 18
  18. 18. Remittance Report, July 201619 Most Active Investors in Sector 7 7 7 6 6 5 5 5 5 5 0 1 2 3 4 5 6 7 8 Accel Pantera Capital Seedcamp Digital Currency Group QED Investors 500 Startups Index Ventures Kima Ventures RRE Ventures SVB Financial Group TotalNumberofCompanies Circle Abra TransferWise Circle Remitly ZipZap TransferWise TransferWise Ripple WorldRemit WorldRemit Align Commerce Revolut BitPesa Flywire CoinPip Revolut Afrimarket Boom Financial Xoom
  19. 19. Remittance Report, July 201620 Where are Top Investors investing
  20. 20. Remittance Report, July 201621 Top Investor by Stage of Entry
  21. 21. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 2 22
  22. 22. Remittance Report, July 201623 Top IPO Companies IPO Date Company Overview Funding Amount Exch:Ticker Jul-2015 paypal.com PayPal (San Jose, 1998) Internet payment services provider Qualcomm, Goldman Sachs, Sequoia Capital, Deutsche Bank, Plug and Play Tech Center, Bankinter, ING, BlueRun Ventures, Madison Dearborn Partners, Temasek, Vertex, Hikari Tsushin, Compass Technology Partners, Singtel, Capital Group, Amidzad, Clearstone Venture Partners, 2020 Ventures, GIV Management, March Venture Partners $194M NASDAQ:PYPL Feb-2013 xoom.com Xoom (San Francisco, 2001) Internet first, direct to bank money transfer service with cash out location service available as well. Sequoia Capital, NEA, SVB Financial Group, Glynn Capital, DAG Ventures, Fidelity Ventures, Northgate, Clarium, F-Prime Capital Partners $106.44M NASDAQ:XOOM Oct-2006 Western Union (Englewood, 1851) Agent network based remittance service provider. Also provides online service for personal and business usage. - NYSE:WU Jul-2004 MoneyGram (Dallas, 1940) Agent based remittance service provider. - NASDAQ:MGI Jan-2001 Earthport (London, 1997) A banking network hub providing a global ACH for money transfer service - LON:EPO
  23. 23. Remittance Report, July 201624 Major Acquisitions in last one year
  24. 24. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 5 25
  25. 25. Remittance Report, July 201626 July 2016Tracxn BlueBox : Remittance 400+ companies in the sector, 83 funded in last 5 years, $730M invested in 2015/16
  26. 26. Remittance Report, July 201627 Top Business Models by Funding $410M $317M $210M $200M $155M $96M $73M $56M $20M $2M 0 90 180 270 360 450 Local In - Local Out B2B Payments e-wallet P2P Currency Matching Rebittance Alternative Remittance Enablers Mobile Platform Offline Aggregator TotalFundingAmount(inMillions) # Cos. 119 37 11 18 51 39 39 48 25 26 Avg. Age 2007.9 2010.2 2007.5 2005.4 2009 2011.7 2008.8 2008.8 2007 2008.5 WorldRemit Ebury PayPal TransferWise Circle Flywire Ripple Boom Financial UNISTREAM Money Transfers Global Forex Express Corp Xoom Payoneer Uphold Azimo Abra BlueKite Fastacash Sendwave UREMIT TawiPay
  27. 27. Remittance Report, July 201628 Local In - Local Out – Business Model Description
  28. 28. Remittance Report, July 201629 Local In - Local Out – Entrepreneur Activity and Investment Trend
  29. 29. Remittance Report, July 201630 Local In - Local Out – Most Funded Companies
  30. 30. Remittance Report, July 201631 B2B Payments – Business Model Description
  31. 31. Remittance Report, July 201632 B2B Payments – Entrepreneur Activity and Investment Trend
  32. 32. Remittance Report, July 201633 B2B Payments – Most Funded Companies
  33. 33. Remittance Report, July 201634 P2P Currency Matching – Business Model Description
  34. 34. Remittance Report, July 201635 P2P Currency Matching – Entrepreneur Activity and Investment Trend
  35. 35. Remittance Report, July 201636 P2P Currency Matching – Most Funded Companies
  36. 36. Remittance Report, July 201637 Rebittance – Business Model Description
  37. 37. Remittance Report, July 201638 Rebittance – Entrepreneur Activity and Investment Trend
  38. 38. Remittance Report, July 201639 Rebittance – Most Funded Companies
  39. 39. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 0 40
  40. 40. Remittance Report, July 201641 Interesting Unfunded Companies Company Overview Business Model FinMates (2016, Singapore) On-demand money transfer service leveraging bitcoin Rebittance – Uber Model Borderless (2015, NYC ) Online P2P currency exchange along with a travel card P2P Currency Matching Synops (2016, London ) Foreign exchange risk management solution provider Enablers – Risk Mangement SendVoucher (2015, Munich ) Allows to send vouchers across borders Alternative Remittance – Voucher & Gifts ParityPay (2015, Slat Lake City ) Allows US employers to offer foreign workers to receive a portion of their pay in their home currency B2B Payments – Mobile Platform AirTM (2015, Mexico City ) Dollar based cloud money storage service provider using Uphold’s technology E-wallet Curated list of companies by the sector analyst are defined as Interesting
  41. 41. Remittance Report, July 201642 Interesting Seed Companies
  42. 42. Remittance Report, July 201643 Interesting Series A Companies
  43. 43. Remittance Report, July 201644 Interesting Series A Companies
  44. 44. Remittance Report, July 201645 Interesting Series B Companies
  45. 45. Remittance Report, July 201646 Interesting Late Stage Companies
  46. 46. Remittance Report, July 201647 Interesting Late Stage Companies
  47. 47. Remittance Report, July 201648 Deadpooled Companies
  48. 48. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 9 49
  49. 49. Remittance Report, July 201650 Useful Links Slide Title Content Platform Link List of All Companies in readable format Companies Link Large Upcoming Sectors Entrepreneur Activity Link Niche Upcoming Sectors Entrepreneur Activity Link Top investments in last one year Investment Trend Link Top IPO Companies Exit Outlook - IPO, Acquisitions Link Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link Local In - Local Out – Most Funded Companies Sub Sector Understand Link B2B Payments – Most Funded companies Sub Sector Understand Link P2P Currency Matching – Most Funded Companies Sub Sector Understand Link Rebittance – Most Funded Companies Sub Sector Understand Link Deadpooled Companies Companies Link
  50. 50. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 1 51
  51. 51. Remittance Report, July 201652 Remittance – Company List COVERS THE FOLLOWING SECTORS P2P Currency Matching Local In - Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  52. 52. Remittance Report, July 201653 P2P Currency Matching (1/4) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers Company Details Funding Investors TransferWise [London, 2010]: TransferWise is a peer-to-peer and business behalf money transfer service. Charges 0.5% as money transmission commission and money is converted at the interbank rate. Supports 17 currencies in 39 countries. The company holds bank accounts in all operating countries and works on a currency swapping model. Strategic angels include PayPal founder Max Levchin. Sir Richard Branson also participated in the Series B & C rounds. $116.37M Andreessen Horowitz, IA Venttures, Index Ventures, SV Angel, Seedcamp, Kima Ventures, Valar Ventures, Baillie Gifford, Firestartr, Valar Ventures, Mosaic Ventures Azimo [London, 2012]: Azimo is a cross border consumer money transfer services. Serves customers in 195+ countries, offering them convenient ways to pay and fair, transparent pricing. Azimo gives customers the option to donate a portion of the money they transfer to charities working in developing countries and has active partnerships with charities. $46.48M Greycroft Partners, Rakuten, e.ventures, Anthemis Group, Accion, b-to-v Partners AG, Frog Capital, Infinity Ventures, Raffay, Beacon Capital, MCI Capital, TA Ventures, Quona Capital, krw-schindler.com CurrencyFair [Dublin, 2009]: CurrencyFair allows individuals and businesses to exchange currencies and send funds to bank accounts worldwide. It uses a unique person-to-person online marketplace to facilitate currency exchange between users, in a simple and anonymous fashion. CurrencyFair is regulated by the Irish Financial Regulator as an Authorised Payments Institution. $24.35M Enterprise Ireland, Frontline Ventures, Octopus Ventures, dfjesprit, Proxy Ventures WeSwap.com [London, 2010]: WeSwap is the world’s first person to person currency exchange for the traveler. Users swap currency with each other at the interbank exchange rate and pay a transparent fee. As well as an online account which can hold multiple currencies, users receive the WeSwap Prepaid MasterCard(R) which enables them to access the funds in their account anywhere that accepts MasterCard. $9.5M EC1 Capital, IW Capital KlickEx [Auckland, 2008]: KlickEx provides a online platform to users to exchange currencies with each other rather than going through a bank. Currently, it deals with 5 currencies namely, Bristish pounds, New Zealand and Australian dollars,Tongan Pa'anga and Samoan Tala of Samoa. The users transfers money to KlickEx and mention the beneficiary details and then request an exchange, which is then matched to other users who wants the other currency at the same rates and henceforth the money are transferred to the beneficiary. It also allows to top up mobiles via its KlickEx Pacific brand. $1.65M
  53. 53. Remittance Report, July 201654 P2P Currency Matching (2/4) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers Company Details Funding Investors Midpoint & Transfer Ltd [London, 1998]: Midpoint is a peer to peer Foreign Exchange and International Payments Platform that eliminates the middlemen from the foreign exchange component of the transaction. By directly matching businesses and individuals with opposite currency needs, they are able to eliminate the 'spread or margin' component from all transactions. Charges a single flat fee, depending on the amount of transaction. This includes the delivery of funds to your Payee's bank account. Midpoint & Transfer Ltd is a subsidiary of Midpoint Holdings. $1.1M First Remit [London, 2013]: FirstRemit is a money transfer service for business and individuals, headquartered in London, England with operations in Bursa, Turkey. Offers money transfer services between EU countries and Turkey to more than 200 countries worldwide. For the first one million USD transfer, First Remit offers completely free transfer services as an added bonus. Revenues were $350k in 2013 and $80M in 2014. $400k The PayPro [London, 2015]: PayPro provides a payment platform for SMEs and individuals, enabling them to manage their international payments in any EEA currency, thus resulting in considerable savings in fee as compared to banks. It offers sending and receiving payments in over 10 currencies in the EEA thus claiming to save over 90% of hidden costs. The user uploads the funds in PayPro's segregated account, which are then matched to another clients' need using P2P. The money is then transferred to the beneficiary's account. $337k LantaDigitalVentures, Idodivc MoneySwap [Hong Kong, 1999]: MoneySwap’s peer to peer online services enable individuals and businesses to exchange currencies, and make payments and fund transfers between them. Users are able to determine their own rates thereby eliminating the middle man and reducing costs. Payment and fund transfer can be done between users or wired to external bank accounts anywhere in the world. MoneySwap provides merchants access to the spending power of over 3.5 billion UnionPay cardholders. MoneySwap’s payment gateways are certified by UnionPay and accept payments from cardholders for online and point of sales purchases. MoneySwap provides a complete solution which includes payment settlements in multi currencies and online access to transaction reports and support. UnionPay is the largest bankcard brand in China, and is widely accepted in more than 125 countries. $150k Empire Realty Group
  54. 54. Remittance Report, July 201655 P2P Currency Matching (3/4) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers Company Details Funding Investors TranSwap [Singapore, 2015]: TranSwap is a P2P currency exchange platform that matches FX needs of users with other users at the mid-market exchange rate. The money is transferred to the segregated account of TranSwap, the currency exchange of the users are matched accordingly. Quest Ventures Kuan [London, 2015]: Kuan is online foreign exchange and money transfer platform provider using P2P matching technology. The company matches the currency value required between two countries and net offs the corresponding value reducing time and rate. Kuan offers real time exchange rate. Users after choosing their pair of currencies, transfer money to Kuan, further to which Kuan matches the currency requirements and credits the receivers' account. Startup Wise Guys FreemarketFX [London, 2011]: FreemarketFX provides foreign currency exchange and money transfer service provider, which offers individuals and businesses to send money at flat 0.2%. Freemarket is a marketplace where both companies and individuals can directly match their currency requirements with their peers for the fixed service fee. VentureFounders MatchMove Exchange [Kuala Lumpur, 2015]: MatchMove Exchange is a mobile first P2P currency exchange community platform where users can exchange their currencies within themselves. The platform claims that its users can exchange 300 currencies and save up to 3% by having transaction through its mobile app. Borderless [New York City, 2015]: Borderless provides a P2P foreign exchange service matching the forex needs of individuals sending and receiving across borders. It also provides a travel card that can be used globally to purchase online and offline. As of April 2016, the company has not rolled out its services fully.
  55. 55. Remittance Report, July 201656 P2P Currency Matching (4/4) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  56. 56. Remittance Report, July 201657 Local In-Local Out (1/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  57. 57. Remittance Report, July 201658 Local In-Local Out (2/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  58. 58. Remittance Report, July 201659 Local In-Local Out (3/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  59. 59. Remittance Report, July 201660 Local In-Local Out (4/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  60. 60. Remittance Report, July 201661 Local In-Local Out (5/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  61. 61. Remittance Report, July 201662 Local In-Local Out (6/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  62. 62. Remittance Report, July 201663 Local In-Local Out (7/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  63. 63. Remittance Report, July 201664 Local In-Local Out (8/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  64. 64. Remittance Report, July 201665 Local In-Local Out (9/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  65. 65. Remittance Report, July 201666 Local In-Local Out (10/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  66. 66. Remittance Report, July 201667 Local In-Local Out (11/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  67. 67. Remittance Report, July 201668 Local In-Local Out (12/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  68. 68. Remittance Report, July 201669 Local In-Local Out (13/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  69. 69. Remittance Report, July 201670 Local In-Local Out (14/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  70. 70. Remittance Report, July 201671 Local In-Local Out (15/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  71. 71. Remittance Report, July 201672 Local In-Local Out (16/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  72. 72. Remittance Report, July 201673 Local In-Local Out (17/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  73. 73. Remittance Report, July 201674 Local In-Local Out (18/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  74. 74. Remittance Report, July 201675 Local In-Local Out (19/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  75. 75. Remittance Report, July 201676 Local In-Local Out (20/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  76. 76. Remittance Report, July 201677 Local In-Local Out (21/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  77. 77. Remittance Report, July 201678 Local In-Local Out (22/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  78. 78. Remittance Report, July 201679 Local In-Local Out (23/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  79. 79. Remittance Report, July 201680 Local In-Local Out (24/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  80. 80. Remittance Report, July 201681 Local In-Local Out (25/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  81. 81. Remittance Report, July 201682 Local In-Local Out (26/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  82. 82. Remittance Report, July 201683 Local In-Local Out (27/27) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  83. 83. Remittance Report, July 201684 Mobile Platform (1/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  84. 84. Remittance Report, July 201685 Mobile Platform (2/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  85. 85. Remittance Report, July 201686 Mobile Platform (3/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  86. 86. Remittance Report, July 201687 Mobile Platform (4/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  87. 87. Remittance Report, July 201688 Mobile Platform (5/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  88. 88. Remittance Report, July 201689 Mobile Platform (6/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  89. 89. Remittance Report, July 201690 Mobile Platform (7/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  90. 90. Remittance Report, July 201691 Mobile Platform (8/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  91. 91. Remittance Report, July 201692 Mobile Platform (9/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  92. 92. Remittance Report, July 201693 Mobile Platform (10/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  93. 93. Remittance Report, July 201694 e-wallet (1/3) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  94. 94. Remittance Report, July 201695 e-wallet (2/3) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  95. 95. Remittance Report, July 201696 e-wallet (3/3) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  96. 96. Remittance Report, July 201697 Rebittance (1/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  97. 97. Remittance Report, July 201698 Rebittance (2/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  98. 98. Remittance Report, July 201699 Rebittance (3/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  99. 99. Remittance Report, July 2016100 Rebittance (4/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  100. 100. Remittance Report, July 2016101 Rebittance (5/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  101. 101. Remittance Report, July 2016102 Rebittance (6/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  102. 102. Remittance Report, July 2016103 Rebittance (7/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  103. 103. Remittance Report, July 2016104 Rebittance (8/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  104. 104. Remittance Report, July 2016105 Rebittance (9/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  105. 105. Remittance Report, July 2016106 Rebittance (10/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  106. 106. Remittance Report, July 2016107 Rebittance (11/11) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  107. 107. Remittance Report, July 2016108 Offline (1/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  108. 108. Remittance Report, July 2016109 Offline (2/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  109. 109. Remittance Report, July 2016110 Offline (3/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  110. 110. Remittance Report, July 2016111 Offline (4/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  111. 111. Remittance Report, July 2016112 Offline (5/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  112. 112. Remittance Report, July 2016113 Offline (6/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  113. 113. Remittance Report, July 2016114 Alternative Remittance (1/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  114. 114. Remittance Report, July 2016115 Alternative Remittance (2/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  115. 115. Remittance Report, July 2016116 Alternative Remittance (3/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  116. 116. Remittance Report, July 2016117 Alternative Remittance (4/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  117. 117. Remittance Report, July 2016118 Alternative Remittance (5/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  118. 118. Remittance Report, July 2016119 Alternative Remittance (6/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  119. 119. Remittance Report, July 2016120 Alternative Remittance (7/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  120. 120. Remittance Report, July 2016121 Alternative Remittance (8/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  121. 121. Remittance Report, July 2016122 Alternative Remittance (9/9) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  122. 122. Remittance Report, July 2016123 Aggregator (1/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  123. 123. Remittance Report, July 2016124 Aggregator (2/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  124. 124. Remittance Report, July 2016125 Aggregator (3/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  125. 125. Remittance Report, July 2016126 Aggregator (4/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  126. 126. Remittance Report, July 2016127 Aggregator (5/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  127. 127. Remittance Report, July 2016128 Aggregator (6/6) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  128. 128. Remittance Report, July 2016129 B2B Payments (1/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  129. 129. Remittance Report, July 2016130 B2B Payments (2/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  130. 130. Remittance Report, July 2016131 B2B Payments (3/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  131. 131. Remittance Report, July 2016132 B2B Payments (4/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  132. 132. Remittance Report, July 2016133 B2B Payments (5/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  133. 133. Remittance Report, July 2016134 B2B Payments (6/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  134. 134. Remittance Report, July 2016135 B2B Payments (7/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  135. 135. Remittance Report, July 2016136 B2B Payments (8/8) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  136. 136. Remittance Report, July 2016137 Enablers (1/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  137. 137. Remittance Report, July 2016138 Enablers (2/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  138. 138. Remittance Report, July 2016139 Enablers (3/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  139. 139. Remittance Report, July 2016140 Enablers (4/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  140. 140. Remittance Report, July 2016141 Enablers (5/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  141. 141. Remittance Report, July 2016142 Enablers (6/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  142. 142. Remittance Report, July 2016143 Enablers (7/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  143. 143. Remittance Report, July 2016144 Enablers (8/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  144. 144. Remittance Report, July 2016145 Enablers (9/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  145. 145. Remittance Report, July 2016146 Enablers (10/10) P2P Currency Matching Local In- Local Out Mobile Platform E-wallet Rebittance Offline Alternative Remittance Aggregator B2B Payments Enablers
  146. 146. Remittance Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 7 147
  147. 147. Remittance Report, July 2016148 Team Rohit Bhattacharya Analyst – Fintech Tarun Bansal Lead Analyst – Fintech

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