Remitly obtains $85 million syndicated bank loan

By Rebecca Melvin

New York, July 10 – Remitly Inc. said it has inked a syndicated bank loan for $85 million and sold $135 million of equity for a total capital raise of $220 million to help fund international growth.

Barclays, Bridge Bank, Goldman Sachs and Silicon Valley Bank were Remitly’s lenders, with Silicon Valley Bank acting as administrative agent and lead arranger, according to the release.

The online money transfer services company is based in Seattle. It aims to build its business of remittance transfers among underserved customers in the developing world.

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