Cross-border payments company WorldRemit has agreed to acquire Sendwave, a rapidly growing app-based remittance company in a cash and stock transaction that is expected to close, subject to licensing and regulatory approvals, in Q4 2020. WorldRemit is backed by investment firms Leapfrog, Accel and TCV.

Founded in 2014, Sendwave has built a leading and rapidly growing digital remittance service to East and West Africa, and this summer added Bangladesh, its first receiving market in Asia...