Big deal for Small World
The money transfer company gets backing following positive growth
Small World Financial Services Group has received further backing from MMC Ventures.
The venture capital firm has invested £2m into the business, which it first backed for £2.4m in 2007. Since starting in 2005, Small World has grown rapidly and is now one of Europe’s leading financial services companies serving ethnic communities and has a presence in eight European countries. It provides money transfer and a range of other services enabling customers to send money to 100,000 locations in over 120 countries worldwide. Small World’s rapidly growing market is driven by immigration and therefore believes it is well positioned to continue growing through the economic downturn. Tom Hopkins, who led the investment for MMC, said: “We are impressed by the growth already achieved by management and this additional investment will allow them to continue to increase their global presence.” © Crimson Business Ltd. 2009