Brazil based money transfer service raised $20m in Series A funding led by Kaszek Ventures.
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Remessa Online raises $20m to become the TransferWise of Latin America
Since its launch in 2016, Remessa Online has provided a pipeline for over $2 billion worth of international transfers for small and medium-sized businesses in the country. The company now boasts over 300,000 customers from 100 countries and says its fees are typically one eighth the cost of the local money transfer options. “We developed an online solution that is faster and substantially cheaper than traditional banking platforms, with digital and scalable processes and omnichannel customer support offered by a team of experts”, said Remessa Online’s co-founder and strategy director Alexandre Liuzzi, in a statement.
