Financial industry veteran Nigel Morris is now a board observer at digital remittance facilitator Remitly.
Mr. Morris cofounded Capital One and is the managing partner at QED Investors. He invested in Credit Karma and SoFi.
“Remitly is a company experiencing exponential growth, yet has the maturity of a company that has been in the market for decades,” Mr. Morris said. “This is really a testament to their senior leadership and ability to light up profitable new verticals while simultaneously maintaining a keen eye on executing in the here and now. They have the potential to truly change the nearly $600 billion remittance market, shaking up the industry with a laser focus on digitization, instant transfers, and lower fees, to help the historically disadvantaged immigrant consumer get more money home to loved ones. They are eliminating friction in the mobile world.”
Remitly recently expanded to the United Kingdom and has transmitted more than $2 billion.