What is Remitly?
Founded in 2010 and headquartered in Seattle, Washington, Remitly operates as a digital-first financial services platform. The company specializes in cross-border payments, aiming to replace traditional, high-fee remittance channels with a faster, more transparent, and cost-effective digital alternative. By leveraging proprietary technology, Remitly has positioned itself as a critical infrastructure provider for migrant workers and global citizens, effectively disrupting the legacy money transfer industry through a user-centric mobile experience.
How much funding has Remitly raised?
Remitly has raised a total of $1.1B across 14 funding rounds:
Series A
$3.8M
Series B
$12.5M
Debt
$12M
Series C
$38.6M
Private Equity
$38M
Series D
$115M
Debt
$85M
Series E
$135M
Series F
$85M
Stock Offering
$523M
Series A (2013): $3.8M backed by QED Investors, Bezos Expeditions, Trilogy International Partners, TomorrowVentures, and Founders Co-Op
Series B (2015): $12.5M with participation from Trilogy Equity Partners, DN Capital, QED Investors, and DFJ Venture
Debt (2015): $12M led by Silicon Valley Bank
Series C (2016): $38.6M supported by Bezos Expeditions, DFJ, Stripes Group, Trilogy Equity Partners, and DN Capital
Private Equity (2016): $38M featuring Trilogy Equity Partners, Bezos Expeditions, International Finance Corporation, DFJ, DN Capital, Silicon Valley Bank, QED Investors, and Stripes Group
Series D (2017): $115M backed by DN Capital, Stripes Group, PayU, and Draper Fisher Jurvetson (DFJ)
Debt (2019): $85M with participation from Silicon Valley Bank, Barclays, Goldman Sachs, and Bridge Bank
Series E (2019): $135M led by Top Tier Capital Partners, Owl Rock Capital, Naspers’ PayU, Princeville Capital, Schroder & Co Bank AG, Stripes Group, Generation Investment Management, DN Capital, and Prudential Financial
Series F (2020): $85M, investors not publicly disclosed
Stock Issuance/Offering (2021): $523M, investors not publicly disclosed
Key Investors in Remitly
Bezos Expeditions
An investment firm founded by Jeff Bezos that focuses on a diverse range of sectors including technology, healthcare, and space exploration, known for backing category-defining companies.
DN Capital
A global early-stage venture capital firm specializing in Seed, Series A, and Series B opportunities across the Fintech, Software, and AI sectors.
QED Investors
A boutique venture capital firm focused on early-stage, disruptive financial services companies across the U.S., U.K., and emerging markets.
What's next for Remitly?
With a robust history of capital infusion, Remitly is well-positioned to scale its operations and deepen its penetration in key international corridors. The recent strategic financing provides the necessary liquidity to accelerate product innovation, potentially expanding its suite of financial services beyond simple remittances. As the company matures, the focus will likely shift toward enhancing operational efficiency and maintaining its competitive edge against both traditional banking institutions and emerging fintech challengers. The sustained backing from high-profile venture capital and growth equity firms suggests a long-term trajectory aimed at capturing a larger share of the global digital payments market.
See full Remitly company page
