PayU returned to lead an $85m funding round for Remitly as demand for its cross-border money transfer service continues to grow amid the pandemic.
US-based remittance services provider Remitly yesterday raised $85m in a funding round led by PayU, the payment processing subsidiary of internet company Prosus.
Generation Investment Management, Owl Rock Capital, Stripes Group, DN Capital, Top Tier Capital Partners, Princeville Global and Threshold Ventures also joined the round, which valued Remitly at $1.5bn.
Remitly operates an online remittance platform aimed in particular at underbanked customers in developing markets across Africa, Asia, central Europe and central and South America.
The company has experienced…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
