SEATTLE, July 29, 2020-- Remitly, the mobile-first provider of remittances and financial services for immigrants, today announced a $85 million funding round to fuel the company’s growth as the global demand for digital remittances continues to surge during the COVID-19 pandemic. The funding will enable Remitly to expand its suite of digital financial services products at a time its customers need them most. 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.