Xoom, a startup pursuing international money transfer, has announced the closing of its Series A financing round.
Peter Thiel, former chairman and CEO of PayPal, was the lead investor in this round. He is currently the managing partner at Clarium Capital Management. As a result of the funding, Thiel has joined the board of directors, which currently includes Keith Rabois, former executive vice president at PayPal.
“I’m extremely excited to join this promising company,” said Peter Thiel. “Xoom has the seasoned team and technology platform in place to achieve true success in the global remittance market.”