<h4>Quick Take</h4> <ul> <li>In 2016, migrant workers sent $575 billion in remittances, mostly to developing countries, paying an average fee of 7%</li> <li>SendFriend is a remittance service that aims to deliver solutions that are 65% cheaper than the industry average</li> <li>The startup has raised $1.7 million in capital from MIT Media Lab, MasterCard Foundation, Barclays, and Ripple</li> </ul>