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Sometimes, you have to spend money to make money. But it always costs something to send it. That’s why the international money transfer business is so large and continues to grow: people are increasingly distributed around the world, and there are now plenty of services to help them send money back to their families, for a fee.

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That’s the business London-based is in. Its international money transfer and cashless remittance services facilitates payments from 50 鈥渟ending鈥� countries to 150 鈥渞eceiving鈥� countries around the world.

Today, the company it financing from a troika of prior investors鈥�, , and 鈥攚hich now values the company at $900 million, post-money.

According to Crunchbase data, the company has raised . The company’s last round, $40 million in Series C funding, , post-money, back in December 2017.

WorldRemit’s CEO, , said in that “For more than eight years our core purpose has been and continues to be to help migrants send money to their families, friends and communities. Our customers play a key role in the economies where they work and their remittances are important to their home countries.鈥� Corcoran joined the company in October 2018 to take over the CEO role from cofounder , who co-founded the company with back in 2010. A indicates that Ahmed and Wines still serve director roles at the company.

“Over the past eight years, Ismail and his founding team have built a fantastic business that offers customers a compelling solution and value proposition,” TCV general partner said in a statement. He continued, “Since passing the reins to Breon and the new management team last year, the business has continued to build on this platform and accelerated. We believe the opportunity and proposition is larger than ever.”

The company is growing, but perhaps a bit slower than its executives and VC backers would like. When the company it said in a statement that the capital it raised would help WorldRemit reach 10 million customers “connected to emerging markets” by 2020. Today’s , some 18 months after the last round, said the company now “serves almost 4 million customers.” 2020 is six months away.

WorldRemit said it will use the fresh Series D capital to “further drive global growth and diversify the company鈥檚 product offering for both money transfer senders and recipients.” The company also said it will launch “a new money transfer solution targeting small and medium-sized business owners who trade internationally, especially in emerging markets.”

Against incumbents like Western Union and upstart peers like TransferWise, WorldRemit is competing for its piece of a growing pie. According to an , 2018 set records for international remittance flows. “Global remittances, which include flows to high-income countries, reached $689 billion in 2018, up from $633 billion in 2017,” according to the report.

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