About Remitly
Remitly is a company based in Seattle (United States) founded in 2011 by Shivaas Gulati and Matt Oppenheimer.. Remitly has raised $1.65 billion across 13 funding rounds from investors including PayU, Goldman Sachs and Barclays. Remitly has completed 2 acquisitions, including Rewire by Remitly and Symphoni. Remitly operates in a competitive market with competitors including Euronet Worldwide, Azimo, Xoom, BookMyForex and OFX, among others.
- Headquarter Seattle, United States
- Founders Shivaas Gulati, Matt Oppenheimer
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Remitly India Operations Private Limited
- Date of Incorporation 23 Oct, 2024
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.65 B (USD)
in 13 rounds
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Latest Funding Round
$85 M (USD), Series F
Jul 29, 2020
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Investors
PayU
& 21 more
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Employee Count
Employee Count
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Investments & Acquisitions
Rewire by Remitly
& 1 more
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IPO & Listings of Remitly
Remitly is a publicly listed company on the NASDAQ with ticker symbol RELY in USA, operating in the Commercial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Software Development Team
168 people
Finance and Accounting
32 people
Sales and Marketing
26 people
Product Management Team
20 people
Human Resources and Administration
17 people
Leadership Team
15 people
Senior Team
12 people
Legal and Compliance
7 people
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Funding Insights of Remitly
Remitly has successfully raised a total of $1.65B across 13 strategic funding rounds. The most recent funding activity was a Series F round of $85 million completed in July 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 13
- Last Round Series F — $85.0M
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First Round
First Round
(26 Oct 2011)
- Investors Count 22
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2020 | Amount | Series F - Remitly | Valuation | PayU , Generation Investment Management | |
| Jul, 2019 | Amount | Debt – Conventional - Remitly | Valuation |
investors |
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| May, 2019 | Amount | Series E - Remitly | Valuation | Generation Investment Management |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Remitly
Remitly has secured backing from 22 investors, including institutional and venture fund investors. Prominent investors backing the company include PayU, Goldman Sachs and Barclays. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity firm focused on sustainable investments
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Founded Year | Domain | Location | |
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Private equity and debt financing are provided to mid-market companies.
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Founded Year | Domain | Location | |
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Venture capital firm focused on software, fintech, marketplaces, and consumer internet
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Remitly
Remitly has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Rewire by Remitly and Symphoni. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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AI-based business loans platform
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2017 | ||||
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International money transfers are facilitated from Israel with Rewire.
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0 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Remitly
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Remitly Comparisons
Competitors of Remitly
Remitly operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Euronet Worldwide, Azimo, Xoom, BookMyForex and OFX, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electronic payments and transaction processing solutions are offered globally.
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| domain | founded_year | HQ Location |
Cross-border money transfers are enabled via a digital banking channel.
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| domain | founded_year | HQ Location |
Cross-border money transfers are enabled via banking channels.
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| domain | founded_year | HQ Location |
Online foreign exchange and remittance services are facilitated in India.
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| domain | founded_year | HQ Location |
International money transfer service provider.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Remitly
Frequently Asked Questions about Remitly
When was Remitly founded?
Remitly was founded in 2011.
Where is Remitly located?
Remitly is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Who is the current CEO of Remitly?
Matt Oppenheimer is the current CEO of Remitly. They have also founded this company.
Is Remitly a funded company?
Remitly is a funded company, having raised a total of $1.65B across 13 funding rounds to date. The company's 1st funding round was a Series E of $1.35B, raised on Oct 26, 2011.
What does Remitly do?
Remitly was founded in 2011 in Seattle, United States, and operates within the financial technology sector focused on remittances. Funds are sent, received, and transferred internationally through banking networks, utilizing bank deposits, UPIs, and cash accounts. Current exchange rates and special offers are displayed, with bank-level security implemented for transactions. Access to the platform is provided via iOS and Android applications.
Who are the top competitors of Remitly?
Remitly's top competitors include Azimo, Euronet Worldwide and NALA.
Is Remitly publicly traded?
Yes, Remitly is publicly traded on NASDAQ under the ticker symbol RELY.
How many acquisitions has Remitly made?
Remitly has made 2 acquisitions, including Rewire by Remitly, and Symphoni.
Who are Remitly's investors?
Remitly has 22 investors. Key investors include PayU, Goldman Sachs, Barclays, SVB, and International Finance Corporation.
What is Remitly's ticker symbol?
The ticker symbol of Remitly is RELY on NASDAQ.
What is Remitly's valuation?
The valuation of Remitly is $1.5B as of Jul 2020.
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