24 05 2016

Remitly's $38.5 Million Series C Financing Round

Fenwick & West represented Remitly, Inc., a leading independent digital money transmitter, in its $38.5 million Series C financing. Stripes Group led the latest round and was joined by Vulcan Capital, both new investors in the company.


Remitly, Inc. provides money transfer services. The company provides a mobile payments service that enables consumers to make person-to-person international money transfers from the United States and Canada; and operates a mobile app that allows people in the U.S. to send money to relatives or friends in Philippines, Mexico, and India in up to three days. The Company, led by Matthew B. Oppenheimer, Josh Hug, Krish Srinivasan, James Philip and Ashish Agarwal, is based in Seattle. Existing investors also participated in the round including DFJ, DN Capital, Bezos Expeditions and Trilogy Equity Partners, among others. Stripes Group partner Ron Shah will join Remitly’s board of directors as part of the financing. Remitly will use the funds to expand its team and continue the company’s global expansion. The Fenwick transaction team was led by corporate lawyers Bill Bromfield (Picture), Thomas Kang and Richard Sapien. Involved fees earner: William Bromfield - Fenwick & West LLP; Thomas Kang - Fenwick & West LLP; Richard Sapien - Fenwick & West LLP;

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