Seattle-based Remitly has acquired Talio, a mobile messaging company that developed an immersive, one-of-a-kind mobile messaging service for family and friends. Remitly is setting out to redefine money transfers to the developing world by creating a service customers love using.
The acquisition brings Talio’s entire team, including founders, developers and engineers, to Remitly, which itself is growing at a rapid pace. The messaging background in Talio’s team builds on Remitly’s strong expertise in mobile services to create deeper connections between customers.
Remitly also announced customers are sending more than $300 million annually using Remitly’s app, the highest-rated mobile app in its category. The company’s customer base grew nearly 400 percent in 2014 compared to the previous year. Remitly currently has more than 50 employees in its Seattle headquarters. The company plans to continue its aggressive hiring and will expand its office space right by the vibrant Pike Place Market in downtown Seattle. In March, the company closed a $12.5 million Series B round of funding.
The company was the first to add messaging to a mobile remittance app in 2013. Today’s acquisition signals Remitly’s continued focus on messaging development and will lead to entirely new types of mobile communications between customers.
Talio’s founders, Piragash Velummylum and Jordan Timmermann, both former Amazon employees, will join Remitly to continue new product development efforts at the company.
With the acquisition, Talio’s investors, including Principal of William Blair & Co. Richard Kiphart, Vulcan Capital, Zillow CEO Spencer Rascoff, Seattle super angel Rudy Gadre, and former Expedia CEO Erik Blachford, among others, will become investors in Remitly.
Remitly was the first mobile payments company to implement Apple’s Touch ID for iOS users. The larger product development team at Remitly will accelerate advancement of new features and services on Remitly’s iOS and Android apps.
Remitly is authorized to operate in 45 states and sends millions of dollars to thousands of people each week. Remitly is backed by industry-leading investors, including DFJ, DN Capital, QED Investors, Trilogy Equity Partners, Bezos Expeditions, Founders’ Co-Op and TomorrowVentures. Remitly is headquartered in Seattle, WA with additional offices in the Philippines.
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