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FT Partners Advises Remitly in its Growth Financing

Overview of Transaction

  • On April 26th, Remitly (or the "Company") announced its "Series C" investment led by Stripes Group LLC ("Stripes")
  • Remitly is the the largest independent digital money transmitter in the United States
  • Headquartered in Seattle, Remitly has focused on the largest markets and built a proprietary network of banks and cash pickup locations to deliver funds quickly and securely overseas, while creating a scalable core remittance platform that offers unique features that deliver on promises to customers
  • Stripes is a leading growth equity firm that invests in Internet, Digital Media, Software and Branded Consumer Products businesses around the world with a focus on partnering with market-leading companies with proven business models that are generating exceptional growth

Significance of Transaction

  • The transaction demonstrates the increasing disruption within the money transfer space as consumers look for more cost effective, safe and efficient remittance options
  • With the investment, Remitly will look to expand its product offering to new corridors and build out internal staff to help bolster operations

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Remitly and its Board of Directors
  • FT Partners leveraged its deep knowledge of the Company, extensive experience and broad industry relationships to help achieve a highly favorable outcome for the Company
  • This transaction demonstrates FT Partners' continued success advising top-tier companies within the Payments and International Money Transfer sector