Wednesday, February 22, 2017

Remitly Ramps Up Remittance Volumes

Seattle-based Remitly, the mobile remittance app developer which lets users send money back to their families overseas, said Tuesday afternoon that it has ramped up its remittance volumes, to $2 billion in 2016, double its 2015 numbers. The company, led by CEO and co-founder Matt Oppenheimer, makes it easier for immigrant workers to share their earnings with their families back home. Remitly is backed by IFC, Silicon Valley Bank, Stripes Group, Vulcan Capital, DFJ, DN Capital, Bezos Expeditions and Trilogy Equity Partners.