Remitly Raises $38.5M More to Take on Western Union, Passes $1B Transferred Annually

Apr 26, 2016 at 12:00am

Remittances are a huge business, with $582 billion transferred in 2015 and $432 billion of that sent specifically to emerging markets, according to the World Bank. Today, one of the bigger startups in the field has raised some funds of its own to help it better tap the opportunity, and better rival established players like Western Union and others like WorldRemit and PayPal’s Xoom.

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