Online to offline international money transfer services is a large and underserved market. For whatever reason the Paypal and Netellers of the world have yet to offer such a solution. Western Union does. They are Xoom's main competitor. Sequoia, an early investor in Paypal, and NEA are investors in Zoom, which is based in San Francisco. Last round ($12M) was done in March 2005. Peter Theil, former CEO of Paypal and Keith Rabois, former EVP of Paypal sit on the board.
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