Remitly, a mobile and online global remittance service, has closed a $38.5 million Series C funding round, according to a press release.

Stripes Group led this round and was joined by Vulcan Capital, both new investors in Remitly. Existing Remitly investors also contributed to the round including DFJ, DN Capital, Bezos Expeditions and Trilogy Equity Partners, among others. Stripes Group partner Ron Shah will join Remitly's board of directors as part of the financing. The new capital will be used to grow Remitly's team and continue the company's global expansion.

Remitly also announced that its service is available in Canada, which the company noted has over 7.4 million immigrants.

"Since day one our strategy has been to bring our service to the largest addressable remittance markets in the world," said Remitly CEO Matt Oppenheimer. "With this new financing, we are able to continue executing against that strategy by building a global footprint in the largest remittance corridors."