Remitly is a mobile payments service that enables users to make person-to-person international money transfers from the United States.
Remitly provides a mobile payment service that enables consumers to make person-to-person international money transfers from the United States and Canada. Its platform is designed to eliminate forms, codes, agents and fees tied to the traditional money-transfer process.
Remitly was founded in May 23, 2011 by Josh Hug, Matt / Matthew Oppenheimer and Shivaas Gulati. The company is based in Seattle, Washington with additional office in Phillipines. Remitly currently operates in 49 states and Washington, D.C., and sends millions of dollars to thousands of customers each month.
Remitly's digital products are fundamentally faster, less expensive, and far more convenient for customers to send money across borders.
Remitly's online service is disrupting the $588 billion a year industry by using the latest technology and mobile devices to eliminate unnecessary forms, codes, agents, extra time and fees tied to the traditional money transfer process.
Remitly is backed by Stripes Group, DFJ, Vulcan Capital, QED, Generation, Swiss asset manager Schroders, Naspers’ PayU, Stripes Group, Trilogy Equity Partners, DN Capital, Founders Co-Op, Bezos Expeditions & TomorrowVentures among others. The company raised $220M ($135M in Private Equity and $85M in Debt Financing round) on July 11, 2019. This brings Remiitly's total funding to $420M to-date.
Remitly was valued at a $1B as of Jul 11, 2019. The company has also acquired Talio Labs, Wire, & Symphoni to-date.