Remitee Receives $20M Funding for Migrant Family Payment OS

Remitee, a company focused on cross-border instant payments, has successfully secured $20,000,000 in its latest funding round. The investment highlights investor confidence in Remitee's platform, which operates as an Operating System for secure, scalable, and compliant infrastructure. This technology is trusted by category leaders within the banking, e-wallets, and payments sectors. The company's platform is specifically designed to meet the financial needs of migrant families, offering them choice and control over their cross-border transactions. Remitee facilitates direct payments for essential services in receiving countries, moving beyond traditional money transfers. This approach aims to eliminate uncertainties and significantly improve the financial experience for both sending and receiving users. Remitee was incubated at MIT and received pre-seed funds from the MIT Sandbox Innovation Funds Program, with its team comprising seasoned professionals experienced in the remittance industry from companies like Western Union. This capital infusion marks a pivotal moment for Remitee, enabling the company to accelerate its strategic growth initiatives. The funds are earmarked for expanding its technological capabilities, scaling its global operations, and further developing its platform to meet the increasing demand for its specialized services. This investment is crucial for advancing Remitee’s mission to modernize the complex landscape of international payments. Looking ahead, Remitee plans to leverage this funding to deepen its impact on migrant communities worldwide. The company is committed to furthering its vision of connecting lives across borders and building a more inclusive financial future, aiming to positively impact millions of lives by reshaping cross-border payment solutions.