Global: Remitee Secures $20M Funding to Expand Embedded Remittance Solutions

Latin American fintech Remitee has raised $20 million in a funding round led by Krealo, with participation from Copec Wind Ventures, Soma Capital, Redwood Ventures, Latitud, and Algorand.

The investment comes at a time when remittances to Latin America and the Caribbean surpassed $150 billion in 2024, growing at an annual rate of nine percent, according to the Inter-American Development Bank. Despite this growth, the sector remains heavily dominated by traditional operators that rely on physical agent networks, resulting in high transfer costs, limited options, and operational inefficiencies.

Remitee is tackling these challenges with its embedded cross-border payments technology, designed to integrate directly into banks, fintech platforms, and retailers where customers already engage and transact. By eliminating the need for additional apps or physical cash withdrawals, the solution offers customers seamless, secure, and cost-efficient remittance services.

Beyond money transfers, Remitee’s embeddable platform empowers institutions to provide a wide range of direct cross-border financial services—including bill payments, prepaid cards, and mobile top-ups—through a single, streamlined integration.

Founded by former Western Union executives, Remitee has already established partnerships with leading financial and retail institutions, including Banco Santander, Banco Galicia, Banco Credito del Peru, Banco Falabella, Remitly, Yape, Getnet, and Copec.

“Twenty million Latino migrants send more than $150 billion home every year, yet most still rely on expensive and inconvenient channels,” said Sergio Saravia, CEO of Remitee. “With Remitee, remittances now live inside the very banks, fintechs, and retailers where migrants already trust and transact, removing the friction of switching platforms to complete a transfer.”

This funding will enable Remitee to scale its RegTech-driven financial compliance framework, enhance its fraud detection and risk assessment capabilities, and expand access to low-cost digital remittance solutions across the region.