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Remitly raises USD 85 mln to fuel growth

Thursday 30 July 2020 14:25 CET | News

Remitly has raised USD 85 million in a funding round to accelerate its growth amid the growing demand for digital money transfers following Covid-19 pandemic.

The round was led by its existing investor Prosus’s PayU. Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global and Threshold Ventures also participated in the funding round.

Primarily, the company will use the new proceeds to expand its financial services portfolio.

Earlier this year, Remitly teamed up with Alipay to enable international remittances for its customers.


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Keywords: Remitly, funding, digital money transfers, expansion
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech