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Visa invests in Remitly
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Visa has made a "sizeable" equity investment in Remitly to help the digital remittance outfit expand its network in emerging markets.
The investment comes as Remitly is understood to have recently hired investment banks to lay the ground for an initial public offering at a $5 billion valuation.
The two firms are also extending an earlier partnership to integrate the Visa Direct real-time push payments platform to enable Remitly customers in the US send funds to eligible debit cards in countries around the world.