Monday, January 6, 2014

Remitly Gets $5.5M More For Mobile Money Transfers

Seattle-based Remitly has raised $5.5M more in a new, Series A funding round, the company disclosed today. The new funding is led by QED Investors, and also includes prior backers Trilogy Partnership, Founders CoOp, Bezos Expeditions, and TomorrowVentures. Remitly is led by Matt Oppenheimer. The company's mobile money transfer service is aimed at overseas money transfers to family and friends in the Philippines by that country's large overseas population. Remittances are a huge business in the Philippines, and have been hitting records with the devastation from last year's Typhoon Haiyan. More information »