Xoom’s international payments platform allows users to transfer money to overseas accounts; think Western Union without the excessive fees, and you can use funds in your PayPal account for the payment.

I’ve used Xoom in the past, and it’s a great service that steps in when Paypal withdrawals (or in some cases Paypal altogether) isn’t available in the country you’re paying to. The fees are reasonable, varying between 4% for a small payment down to 1.1% for larger payments. The service is also a convenient way to make international wire transfers that compare well in price to most major banks.

The Series E round takes Xoom’s total funding to in excess of $50 million.

(via PEHub)

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