Fenwick represented Remitly, the mobile-first provider of remittances and financial services for immigrants, in its $85 million Series F financing. Existing investor Prosus’s PayU led the round at a $1.5 billion valuation. They were joined by returning partners Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global and Threshold Ventures.
The funding will enable Remitly to expand its suite of digital financial services products. More information can be obtained from the company’s announcement.
The Fenwick transaction team included corporate partner Bill Bromfield and associates Thomas Kang, Annie Omata and Andrew Webber, as well as antitrust & trade regulation counsel Ashley Walter.