For millions of Latin American migrants, sending money home is a financial act, sure – but it’s also a ritual of love, duty, and hope. Yet for decades, that ritual has been weighed down by outdated systems, high fees, and long waits.
Remitee saw that pain up close and decided to take a different route. Instead of building yet another app competing for users’ attention, the company built the pipes – an embedded infrastructure that lets banks, fintechs, and even retailers offer cross-border payments directly inside the platforms people already use.
That vision just earned a major vote of confidence. Remitee has raised $20 million in a new funding round led by Krealo, joined by a group of strategic and institutional investors. The raise will help the company expand its reach across Latin America, the U.S., and Europe: three corners of a growing financial triangle that sees more than $150 billion in remittances annually, according to the Inter-American Development Bank.
Behind that number are an estimated 20 million Latin American migrants sending support home every month. “For them, remittances aren’t optional; they are lifelines,” the company said in its fundraising announcement. “Yet the experience hasn’t kept pace with their needs.”
That experience is what founder and CEO Sergio Saravia set out to fix. Growing up in Patagonia, Saravia watched his father travel 80 kilometers to send money back home to Bolivia. “After forty years, for 70% of the migrant population in the world, the process was still the same as what my father and grandmother experienced,” he told Refresh Miami. “I decided to quit and build something different, with a clear purpose: to change the lives of migrant families.”
Through a single integration, a partner bank or fintech can now embed instant international transfers right into its platform. No need to direct users elsewhere or build new apps from scratch. “We are transforming the customer experience by embedding cross-border services into ecosystems people already trust and use daily,” Saravia said.
More than 40 institutions already rely on Remitee’s infrastructure. They can launch remittance services in a matter of weeks, rather than years, and, according to Remitee, many are already seeing strong upticks in retention and transaction volume.
In 2024, Remitee quadrupled transaction volume year-over-year and reached sustained profitability. “That combination of scale and sustainability is rare in fintech, and it demonstrates that the infrastructure model we’re building works,” the team shared.
The new capital is designed to accelerate that trajectory. Beyond growing its partner network, Remitee plans to expand coverage across all Latin American corridors and deepen its U.S.-Europe-LatAm presence. It’s also doubling down on tech: its hybrid treasury system enables instant settlement in both fiat and stablecoins, while its AI-powered engine automates payment routing and enhances compliance checks in real time.
For partners, that means flexibility and reliability. For users, it means something even more valuable: confidence that every transfer will reach home quickly and securely
As Remitee put it, “Our goal is to make those flows faster, fairer, and simpler by bringing them into the financial services people already use.”
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