Remitly Receives Equity Investment from Visa

remitly

Remitly, a Seattle, WA-based mobile-first provider of remittances and financial services for immigrants, received an equity investment from Visa. 

The amount of the deal was not disclosed.

Further advancing their partnership,┬áRemitly┬áis also extending an earlier partnership with Visa, to integrate┬áVisa Direct, Visa’s real-time┬ápush payments platform, to help enable┬áRemitly┬ácustomers in the United States to send funds to eligible Visa debit cards in countries around the world. Through this extension,┬áVisa and┬áRemitly┬áwill continue to work together to further expand cross-border transfer services and provide customers secure money transfer solutions.

Led by Matt Oppenheimer,┬áCEO, Remitly┬áis a mobile-first provider of remittances and financial services for immigrants,┬áwhich enables international money transfers through its global network.┬áSince the start of 2020,┬áRemitly┬áhas more than doubled its reach in the number of available receive countries, from 49 to over 100 – while also launching send functionality in Singapore.┬áRemitly’s┬ámobile wallet network also expanded by more than 100 % worldwide.┬á

Established in 2011 and headquartered in Seattle,┬áthe company is backed by more than a dozen investors, including Generation Investment Management,┬áProsus’┬áPayU,┬á Stripes and Bezos Expeditions. Remitly operates from numerous offices around the world, in cities including London, Krak├│w, Manila and Managua.

This new funding from Visa follows Remitly’s┬á$85m Series F round in July 2020.

FinSMEs

11/05/2021