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
US remittance start-up Remitly lands $85m
