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Venture Capital News: Remitly Raises $85M Funding Round

SEATTLE, WA, Remitly has raised an $85M round led by PayU.
Remitly has raised an $85M round led by PayU, the payments business owned by Prosus (Naspers' technology holdings), with participation from DN Capital, Generation Investment Management, Owl Rock Capital, Princeville, Stripes, Threshold Ventures and Top Tier.

Remitly is a mobile payments service, supported on Android, iOS and online, that enables consumers to conveniently make person-to-person international money transfers from the United States. Its digital service uses the latest technology to eliminate the forms, codes, agents, extra time and fees typical of the traditional money transfer process. Remitly is authorized to operate in 45 states and sends millions of dollars to thousands of people each week.
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