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News

Remitly raises USD 5.5 mln in Series A funding round

Tuesday 7 January 2014 11:57 CET | News

Remitly, an emerging mobile money transfer service that allows immigrants in the US to send money home, has secured USD 5.5 million in Series A funding round led by QED Investors, a financial technology venture capital firm.

In addition to QED, Remitly investors include Trilogy Partnership, Founders Co-Op, TomorrowVentures, Bezos Expeditions and other investors.

Remitly’s services are currently focused on customers sending money from the US to the Philippines. Remitly is set to use the new capital to extend its presence worldwide.

Remitly is a mobile payments service that enables consumers to make person-to-person (P2P) international money transfers from the US. Remitly is a licensed money transmitter operating in 21 states. The company is backed by QED, Trilogy Partnership, Founders CoOp, Bezos Expeditions, and TomorrowVentures. Remitly is headquartered in Seattle, US with additional offices in the Philippines.

 


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Keywords: Remitly, mobile money transfer, Series A, funding round, mobile payments, QED Investors, Trilogy Partnership, Founders Co-Op, TomorrowVentures, Bezos Expeditions, Philippines, US
Categories: Payments & Commerce
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Countries: World
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