Xoom is an international money transfer service that allows users to transer funds from its website to others who are off line and in other countries. The services is a viable alternative to PayPal when you hit some of PayPal’s limitations such as overseas transfers.

Xoom transactions do not require bank accounts on either side. Also, Xoom allows your to transfer your PayPal funds where PayPal itself can’t. Fees range from around 4% for small transactions to 1.1% for large ones. It’s a reasonable rate compared to others, but nothing to brag about.

Xoom has currently raised a generous $50+ million in 5 rounds of venture capital. Appropriately, Sequoia Capital’s Roelof Botha is a lead investor in Xoom and a member of the board. Botha served as the CFO of PayPal before he moved to Sequoia and has made investments in this space before.

Milestones
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Xoom — 24/7 cash pickup in Philippines announced through partnership with M. Lhuillier (2/2/09)

Posted 4/17/09 at 10:06am
Xoom received $20M in Series E funding. (9/1/07)

Posted 10/1/07 at 3:07am
Xoom added Keith Rabois as Board of Directors. (2/03)

Posted 9/30/07 at 3:00pm
Xoom added Kevin Hartz as Co-Founder, Board of Directors.

Posted 9/30/07 at 3:00pm
Xoom added Ryno Blignaut as VP, Finance and Administration.

Posted 9/30/07 at 2:57pm
Xoom added Julian King as SVP, Marketing and Products.

Posted 9/30/07 at 2:57pm
Xoom added Roelof Botha as Board Member.

Posted 5/7/08 at 7:52pm
Xoom added John Kunze as President and CEO.

Posted 4/20/09 at 11:45am