Seattle-based finance company Remitly has secured $135 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 10 and led by Generation Investment Management.
According to its Crunchbase profile, "Remitly is a mobile payments service that enables consumers to conveniently make person-to-person international money transfers from the United States. Its online service is disrupting the $588 billion a year industry by using the latest technology and mobile devices to eliminate unnecessary forms, codes, agents, extra time and fees tied to the traditional money transfer process. As a licensed money transmitter, Remitly currently operates in 49 states and Washington, D.C., and sends millions of dollars to thousands of customers each month."
The eight-year-old company has raised 10 previous funding rounds, including a $115 million Series D round in 2017.
The round brings total funding raised by Seattle companies in financial services over the past month to $221 million, an increase of $200 million from the month before. The local financial services industry has produced 30 funding rounds over the past year, securing a total of $485 million in venture funding.
In other local funding news, marketing and consumer company Amperity announced a $50 million Series C funding round on July 15, led by Tiger Global Management.
According to Crunchbase, "Amperity’s mission is to help people use data to serve the customer. They are revolutionizing the way companies connect, identify, and understand their customers by leveraging artificial intelligence to deliver a truly comprehensive and actionable Customer 360. This view improves marketing performance, fuels accurate customer insights, and enables world-class customer experiences."
Founded in 2016, the company has raised two previous rounds, including a $28 million Series B round in 2017.
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