Xoom is a web and mobile platform that lets users send money internationally to bank accounts, debit cards, mobile wallets, or cash‑pickup locations in over 160 countries. It provides upfront fee and exchange‑rate disclosure, supports phone top‑ups and bill payments, and secures transactions with PayPal‑backed encryption and fraud monitoring.
Funding
$25M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
People sending money internationally often face high fees, opaque exchange rates, and limited delivery options such as bank transfers, cash pickup, or mobile wallets, making it difficult to support family and pay bills abroad quickly and securely.
Solution
Xoom provides a web‑ and mobile‑based platform that enables users to transfer funds to bank accounts, debit cards, mobile wallets, or for cash pickup in over 160 countries. The service displays the exact fee and exchange rate before confirmation, ensuring cost transparency. It also supports mobile phone top‑ups and utility bill payments in selected markets, expanding the range of financial services available to recipients. Transactions are protected by end‑to‑end encryption and 24/7 fraud monitoring, leveraging PayPal’s security infrastructure. Multi‑language support and round‑the‑clock customer service help users navigate the process in their preferred language. The iOS and Android apps allow transfers to be initiated from anywhere, providing on‑the‑go convenience. By partnering with local banks and payment networks, Xoom delivers funds quickly while complying with regional regulations.
Target Audience
Xoom serves individuals and diaspora communities who need to send money, pay bills, or top up phones for family and friends abroad, as well as small businesses requiring low‑cost cross‑border payments.
Features
- Transfer to bank accounts, debit cards, mobile wallets, or cash pickup in 160+ destination countries
- Transparent upfront fee and exchange‑rate disclosure before transaction submission
- Mobile phone airtime reloads for dozens of countries, enabling instant top‑ups
- Utility bill payment for electricity, internet, and other services in select regions
- Secure data encryption and continuous fraud‑monitoring powered by PayPal’s security framework
- 24/7 multilingual customer support centers worldwide
- Native iOS and Android applications for instant, on‑the‑go transfers
- Integration with major global banking and payment partners for rapid delivery