Remitly, which provides digital financial services for immigrants and their families, is increasing its Cork operations and creating 120 new jobs.

The roles will include customer protection associates, customer success team managers, programme specialists and compliance analysts.

The US company was established in Seattle in 2011 and employs more than 1,800 full-time workers around the world. It has served more than 5m customers cross 75 currencies.

Remitly aims to eliminate the unnecessary forms, codes, agents, time and fees associated with the traditional money transfer process.

In 2019 the fintech almost hit the $1bn valuation mark after a $220m funding raise.

In June 2020, it established a fraud and compliance centre of excellence in Cork. A month later, it raised $85m in funding to fuel its growth, giving it a valuation of $1.5bn.

Remitly is looking to fill its newly announced jobs over the next six months.

The company has recently taken nearly 20,000 sq ft at Penrose Dock, a new office complex at the heart of Cork’s new docklands.

Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar, TD, said the announcement was great news for Cork.

“I’m sure the company will have no problem filling the new roles with the wealth of talent in the area. The very best of luck.”

Remitly’s chief customer and people officer Rene Yoakum said the company is excited to grow its Cork team.

“We are working to transform the way immigrants send money globally and doing it in a way that is truly customer centric. We look forward to welcoming 120 new Remitlians to the team who share our passion for serving customers, solving fascinating problems and having fun with talented colleagues.”  

Dermot Kennedy, director of Ireland operations, said IDA Ireland has supported Remitly in its expansion plans.

“Industry alignment is also key and we have been able to partner with University College Cork and Cork Institute of Technology, which is exciting for us as we look to our future in Cork,” he said.

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