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FT Partners Advises Remitly on its $115,000,000 Series D Financing

Overview of Transaction

  • On October 31, 2017, Remitly announced it has agreed to raise up to $115 million in Series D financing led by Nasper’s FinTech investment division PayU, a global online payment service provider
  • Existing investors, Stripes Group, DFJ and DN Capital will also participate in the round
  • Laurent le Moal, PayU CEO, will join Remitly’s board of directors following the investment
  • Remitly is the largest independent digital remittance company in North America, transferring nearly $4 billion in annualized volume
  • Naspers is a global internet and entertainment group and one of the largest technology investors in the world, with investments in Tencent and Flipkart, among others
  • PayU is focused on empowering people through financial services supporting over 300,000 merchants and millions of consumers making online payments

Significance of Transaction

  • PayU’s heritage in local payments in growth markets along with its focus on providing access to products that meet local needs, will assist Remitly in further expanding its global footprint

FT Partners' Role

  • FT Partners served as the exclusive strategic and financial advisor to Remitly on this transaction
  • FT Partners also previously advised Remitly on its $38.5 million Series C financing
  • This transaction further supports FT Partners’ continued success advising leading companies in the Money Transfer / International Payments space