DN Capital announces second fund-returner investment with exit of Remitly. The sale of Remitly has generated €147 million of exit value, representing a 16x return on an investment of €8.7m.
We were Remitly’s first European investor, backing the company all the way back in 2015 to becoming a $4bn company today.
Since DN Capital’s first investment in 2015, Remitly has developed from two remittance corridors to approximately 4,800 corridors and 5 million quarterly active accounts. During DN Capital’s involvement with Remitly, the Company grew its revenue run rate from $6 million to over $900 million in under 9 years.
Steve Schlenker commented, “At DN Capital, we strongly believe that one can do well for the world while also generating outsized returns for investors. Remitly’s mission of transforming the lives of immigrants and their families by providing the most trusted financial services on the planet directly aligns with a core theme of DN Capital’s, using technology to promote financial inclusion and leveling uneven playing fields. We are proud of DN Capital’s role in helping Remitly achieving this mission.”
