Embedded remittance infrastructure provider Remitee has secured $20 million to assist banks, fintechs, and retailers in integrating instant cross-border payments directly into their applications and platforms.
Krealo led the investment round, supported by Copec Wind Ventures, Soma Capital, Redwood Ventures, Latitud, and Algorand. According to the Inter-American Development Bank, remittances to Latin America and the Caribbean exceeded $150 billion in 2024, growing at an annual rate of nine percent. However, Remitee points out that the LatAm remittance market remains largely dominated by traditional operators, which use physical agent networks and result in high-cost transfers, limited options, and inconvenience for customers.
Remitee’s technology aims to address these issues by embedding instant cross-border payment capabilities directly into the platforms that users already trust, eliminating the need for additional apps or cash withdrawals. In addition to money transfers, institutions can offer users greater control over their finances with services like bill payments, prepaid cards, and mobile top-ups, all through a single integration.
Founded by former Western Union executives, Remitee already partners with numerous corporate clients, including Banco Santander, Banco Galicia, Banco Credito del Peru, Banco Falabella, Remitly, Yape, Getnet, and Copec.
CEO Sergio Saravia emphasizes, “Twenty million Latino migrants send more than $150 billion home every year, yet most still rely on expensive, inconvenient options. With Remitee, remittances now live inside the very banks, fintechs, and retailers where migrants already trust and transact, eliminating the friction of leaving those platforms to complete a transfer elsewhere.”