International financial transfer platforms TransferWise and Remitly each announced nine-figure rounds last week, highlighting the growth of the sector.
The $280m raised by UK-based cross-border financial transfer platform TransferWise last week, combined with the $115m series D round announced by US-based financial remittance platform Remitly, indicates one way in which the fintech sector is evolving.
TransferWise has built an online platform that provides a more affordable option for businesses that want to make financial transfers to other countries. It intends to expand in 2018 by launching a consumer-focused service that will involve a dedicated debit card.
The funding
