4.2 C
February 3, 2023
Finance Technologies

US remittance start-up Remitly lands $85m

Remitly, a US start-up which helps migrant workers send money abroad, has landed $85 million in an equity round. Led by PayU, the round also saw participation from a series of previous backers. These include DN Capital, Generation Investment Management, Owl Rock Capital, Princeville, Stripes, Threshold Ventures and Top Tier. The fintech’s valuation now stands at $1.5 billion, according to TechCrunch. Remittance market post-coronavirus Whilst Remitly is newly well-capitalised, the remittance market as a whole is set to suffer from the pandemic. The World Bank estimates that remittances sent to low and middle-income countries will fall 20% this year to $445 billion.…
US remittance start-up Remitly lands m

Related posts

Banks with IT-savvy board are hit less by cyberattacks and downtime

Amme Jhonson

India’s Udaan lands $280m in Series D funding

Amme Jhonson

French telecoms firm launches prospective challenger bank

Amme Jhonson

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Policy