[CEO and founder Matt] Oppenheimer said the equity will both be used to expand its remittance business but mainly to invest in that new wave of services it’s eyeing up. The debt, meanwhile, is to fuel the growth of its “express” fast-send option. “Today we can post funds, but we can also pre-fund for express transfers, and we wanted to have the capacity and the line of credit to be able to fund the pre-funding part, which is growing rapidly,” he said of the debt portion of the financing.

https://techcrunch.com/2019/07/09/remitly-raises-220m-to-expand-from-money-transfers-to-financial-services-now-at-900m-valuation/