Remitee secures $20m funding to support embedded remittances

Core Insights - Remitee, an international direct-payments infrastructure provider, has raised $20 million in a funding round led by Krealo, with participation from several strategic and institutional investors [1] - The company aims to expand its services across all Latin American corridors and strengthen its presence in the US-Europe-LatAm triangle [1] Company Overview - Established in 2017, Remitee's operating system enables banks, fintech companies, and retailers to offer cross-border payment services [1] - The company currently serves over 40 institutions, including Santander, Banco Galicia, and MoneyGram [4] Market Opportunity - The embedded remittance infrastructure provider aims to grow its enterprise customer base tenfold by 2027 and will continue investing in its technology [2] - According to the Inter-American Development Bank, remittances to Latin America and the Caribbean exceeded $150 billion last year, driven by migrants sending money home [2] Service Features - Remitee's mission is to embed cross-border payments directly into trusted platforms, allowing customers instant access to international transfers without leaving their ecosystem [3] - The infrastructure supports various services, including direct payments for utilities, education, and healthcare [3] Performance Metrics - In 2024, Remitee recorded a fourfold increase in transaction volume year-on-year and achieved sustained profitability [4]