Tuesday, October 31, 2017

Remitly Raising $115M From Naspers

Seattle-based overseas remittance provider Remitly is raising a massive, $115M funding round, the company said today, in its Series D funding. According to Remitly, the round will be led by PayU, the fintech investment division of Naspers, and also will include existing investors Stripes Group, DFJ, and DN Capital. Remitly operates a mobile-driven, remittance service which lets users send money around the world. The company focuses on overseas workers who do not have access to traditional bank accounts, and typically pay extremely steep fees to send back money to their families. As part of the funding, PayU CEO Laurent le Moal will join the company's board. Remitly's CEO and co-founder is Matt Oppenheimer. More information »