The archive · Money & Fintech · Strategic decision · 2017–2025
Remitee's embedded-remittance bet wins $20M from Credicorp's Krealo
Remitee bet migrants would send money from apps they already trust; 40+ banks and retailers embed its rails, and Krealo led a $20M round.
Remitee
What the business is
Remitee is an Argentine cross-border payments infrastructure company whose embeddable technology lets banks, fintechs and retailers offer remittances and direct international payments inside their own platforms.
How it started
Founded in 2017 by former Western Union executives, including CEO Sergio Saravia, Remitee targeted the more than US$150 billion that migrants send to Latin America and the Caribbean each year, a market still dominated by physical agent networks with high fees.
What happened
Remitee built a hybrid treasury infrastructure that settles instantly in both fiat and stablecoins, with AI-driven routing and regulatory controls. By 2025 more than 40 institutions used it, including Santander, Banco Galicia, BCP, Yape, Falabella, Copec, GetNet, Remitly and MoneyGram; partners launch services in weeks and report double-digit gains in retention and volume, and Remitee quadrupled transaction volume in 2024 while reaching sustained profitability.
How it ended up
In October 2025 Remitee closed a US$20M round led by Krealo, the corporate venture arm of Credicorp, with Copec Wind Ventures, Soma Capital, Redwood Ventures, Latitud and Algorand also participating, to expand across all Latin American corridors and grow its enterprise client base tenfold by 2027.
Background
Remitee is an Argentine company, founded in 2017 by former Western Union executives, that builds cross-border payments infrastructure. Banks, fintechs and retailers embed its technology so their customers can send international transfers without leaving the app they already use.
The bet was that migrants would not download a specialist remittance app: the winning channel was the institution that already holds the customer's trust. Remitee supplies the rails — technology, liquidity and compliance — and partners launch services in weeks instead of years.
The model found traction: more than 40 institutions, from Santander and Banco Galicia to BCP, Yape, Falabella, Remitly and MoneyGram, run on Remitee's infrastructure, and the company quadrupled its transaction volume in 2024 while reaching sustained profitability.
In October 2025 Remitee raised US$20M in a round led by Krealo, the corporate venture arm of Peru's Credicorp, with Copec Wind Ventures, Soma Capital, Redwood Ventures, Latitud and Algorand participating. The capital is earmarked for full Latin American corridor coverage and a tenfold expansion of its enterprise client base by 2027.
What has to be true
- Remittances to Latin America and the Caribbean surpassed US$150 billion in 2024, yet the market ran on physical agent networks with high fees and slow service.
- Embedding into banks and retailers exploits existing trust: customers stay in their own app, and partners see double-digit gains in retention and transaction volume.
- The hybrid fiat-and-stablecoin treasury gave 24/7 instant settlement and cheaper routing, an edge traditional remittance networks could not easily copy.
- Krealo brought both capital and instant distribution — Credicorp group companies BCP, Yape, Tenpo and Mibanco already use Remitee's infrastructure.
What can be applied
When customers will not switch, embed where they already are: Remitee turned remittances into bank-and-retailer infrastructure, quadrupled volume in a year and reached profitability.
Aftermath
As of 2026-09-05 Remitee continues to scale its embedded-remittance infrastructure across Latin America, the US and Europe. Following the October 2025 round, the company said it would expand to all Latin American corridors and grow its enterprise client base tenfold by 2027, investing further in its AI-driven payment routing, compliance controls and hybrid fiat-stablecoin settlement. No later funding or ownership change has been reported in the sources reviewed.
Sources
- Global: Remitee Secures $20M Funding To Expand Embedded Remittance Solutions
- Remitee levanta US$20 millones para expandir su infraestructura de remesas integradas en LatAm, EE. UU. y Europa
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