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Remitly was founded in Seattle in 2011 and instantly took a different approach to growth by just focusing on one segment (US to Philippines) and one state. It’s annual flows are now tracking north of $6bn/year and it has served over a million customers.
Last week Remitly announced its giant $220m funding round. The discussion covered a range of topics:
- How the new raised equity will be spent?
- How to provide instant payments and the need for working capital
- How building trust is the cornerstone of Remitly
- What technology trends have meant for the business
- What to make of Facebook’s Libra project