Remitly lands investment from Visa amid reports of IPO preparation

Seattle mobile remittance startup Remitly landed an undisclosed equity investment from Visa. The companies previously partnered in 2019 and have extended that partnership; Visa cited the deal in its earnings call last month. The investment comes as Remitly is reportedly preparing to go public. Total funding to date in the 10-year-old company, prior to the Visa investment, was nearly $400 million, including a $85 million Series F round raised in July. Remitly’s mobile technology lets people send and receive money across borders. The company is ranked No. 3 on the GeekWire 200 list of top Pacific Northwest tech startups.