It amazes me the deals Mint can find. Both ePay and Speed remit seems to be deals when you compare those companes to their peers. UAEX is valued at 5 Billion, which gives SR a value of about 2.8 Billion based on customer count. How was Mint able to pick them up for only $6M?
Granted this is the most basic analisys and there are a lot of difference between SR and UAEX, but all that doesn't account for 2 billion in valuation.
Here is what UAE Exchnage says about their network
UAE Exchange is a leading global money transfer and foreign exchange brand trusted by millions of customers and partners, across the world. A people’s brand, we are known for our quality and customer-centric approach. Started over 30 years ago, our consistent world class service has earned the trust of over 3.5 million customers, worldwide. With600+ direct offices in 30 countries across five continents make us the only brand in the segment to own a global network of this magnitude. Our correspondent banking relationship with over 150 global banks adds to this strength.
Here is what Speed Remit says....
Speed Remit Worldwide is a Financial Service Authority (FSA) regulated, ISO 9001:2008 certified remittance company based in the United Kingdom and the UAE with money transfer licenses and interests in the US, United Kingdom, Australia, Canada, Hong Kong, and Kuwait. As an International Money Transfer company, Speed Remit has earned trust and confidence of its customers over the past few years. Speed Remit presently has a network of 60,000+ payment points across 95+ countries with over 2 Million customers. Speed Remit is one of few companies in this industry to achieve this in such a short span of time. Speed Remit Worldwide Ltd is a UK based Money Transfer Company, licensed under HMRC since 2004, and regulated by FSA (Financial Services Authority), having its corporate office in United Kingdom. Speed Remit has 11 offices in other countries covering 5 continents. The Company has acquired the SWIFT membership to take the Money Transfer Business to higher levels and recently tied up with one of the leading Mobile Service Providers for Mobile Money Transfer facility.