US-based online money transfer service Xoom secured $25m in financing on Monday from existing investors. Xoom did not disclose the identity of the investors but signatories on the filing indicate participation from Volition Capital (formerly Fidelity Ventures), a corporate venturing division of financial services corporation Fidelity Investments, as well as venture capital (VC) firms Sequoia Capital and New Entreprise Associates.
Xoom’s investors also include SVB Capital, the private equity division of the Silicon Valley Bank, and VC partnership DAG Ventures, though it is unclear whether either were involved in the latest funding round.
Xoom operates an international money transfer service from its website which allows users to send money to friends and family in six continents, without the recipients needing a bank account or an internet connection.
The last significant funding prior to the latest round was a series F round in March last year that raised $33.3m. The latest investment takes Xoom’s overall funding to $102m since it was founded in 2001.