Communication Company Rebtel Raises $8M in Funding to build a digital bank aimed at migrant workers

For building an advanced bank for migrant workers. Rebtel has raised $8 million. Rebtel will take the new infusion of $8 million – led by Index Ventures Balderton Capital also this combined with a further $8 million from its current treasury for its existing banking Endeavour.

CEO of Rebtel, Magnus Larson,  says: “When moving to a new country whether it be for work, love, or a new beginning, many migrants may not have credit or any form of financial data to back up. With the addition of this service, we hope to help  migrants success and help them prosper wherever they land."

Rebtel at present offers its 500,000-in number migrant user community network worldwide boundless calling to 56 nations for $10 a month. It likewise offers an on-demand job programme in migrant rich nations which includes Miami and Houston which pays migrants through signups in Rebtel application.

Despite the fact that subtle elements of the new banking products are inadequate, the Rebtal bank is required to make its debut in Q4 2018.