Corcoran joins payments start-up

Breon Corcoran, one of the key figures behind the merger that established Paddy Power Betfair, has joined payments start-up WorldRemit as chief executive.

Corcoran was the high-profile CEO of Betfair prior to the link-up with Paddy Power in 2016, after which he became chief executive of the combined company.

However, in August last year, it was revealed that Corcoran was to step down as CEO, eventually exiting Paddy Power Betfair in January. Peter Jackson, formerly of WorldPay, took on the role.

Corcoran will now take on the same role at WorldRemit, which was founded in 2010 and serves as a digital money transfer company that allows customers to send money from 50 countries to around 150 nations worldwide.

“Across the world, consumers are turning away from cash, towards digital payments solutions,” Corcoran said.

“With tailwinds like the global adoption of new technologies combined with growing remittance flows, there is enormous potential for WorldRemit’s global expansion and I look forward to leading the company through its next evolution.”

Founder Ismail Ahmed will become executive chairman of the firm, which plans to reach 10 million customers by 2020.

He said: “Breon’s global outlook and experience of enhancing the standard of service in the market will enable us to realise our ambitions to find new ways to help customers do more with their money as the company scales.”