Hey, I'm Dan! I invest in startups at Madrona and write the DL, a weekly newsletter about tech in the Pacific Northwest

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Another one! Last week, Remitly announced an $85M Series F that valued the company at $1.5B, making Remitly the 38th PNW unicorn! In case you don’t know much about the company, here’s a quick summary:

  • Remitly helps people send money internationally for a small fee
  • Typically customers are immigrants who want to send money to their families in countries like Mexico, India, and the Philippines
  • Matt Oppenheimer, Remitly’s CEO, came up with the idea while working at a bank in Kenya
  • Since launching in 2011, they have served 3M+ customers in 60+ countries
  • PayU led the round (after leading a $115M Series D two years ago)


Congrats to the team at Remitly on this milestone! And exciting times for the PNW - four new unicorns (ZoomInfo, Accolade, Qumulo and Remitly) in the last two months!


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