Remitly
Founded Year
2011Stage
IPO | IPOTotal Raised
$520.27MDate of IPO
9/23/2021Market Cap
3.60BStock Price
18.52Revenue
$0000About Remitly
Remitly (NASDAQ: RELY) is a digital money transfer service. It allows customers to send money to friends and family members. It offers a variety of money transfer services, including international money transfers, mobile money transfers, and more. It was formerly known as Beamit Mobile. The company was founded in 2011 and is based in Seattle, Washington.
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ESPs containing Remitly
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The P2P (peer-to-peer) cross-border payments platforms market facilitates the direct transfer of funds between consumers located in different countries. Some providers specialize in remittances more broadly, while others target money movement between specific countries. Most offer accounts where users can hold their money as well.
Remitly named as Leader among 14 other companies, including Zepz, Revolut, and Wise.
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Research containing Remitly
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Remitly in 2 CB Insights research briefs, most recently on Apr 7, 2023.
Expert Collections containing Remitly
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Remitly is included in 4 Expert Collections, including Payments.
Payments
2,887 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Tech IPO Pipeline
282 items
Track and capture company information and workflow.
Fintech
9,180 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Digital Banking
764 items
Remitly Patents
Remitly has filed 1 patent.
The 3 most popular patent topics include:
- application programming interfaces
- customer experience
- data management
Application Date | Grant Date | Title | Related Topics | Status |
---|---|---|---|---|
5/1/2020 | 9/6/2022 | Payment systems, Data management, Customer experience, Application programming interfaces, Diagrams | Grant |
Application Date | 5/1/2020 |
---|---|
Grant Date | 9/6/2022 |
Title | |
Related Topics | Payment systems, Data management, Customer experience, Application programming interfaces, Diagrams |
Status | Grant |
Latest Remitly News
Apr 2, 2024
Remitly Across Seattle, companies are ramping up their hiring goals in an effort to expand their reach and dominate the local tech scene. Remitly is one of them. The company, founded in 2011 out of a desire to help immigrant families more easily send money across borders, has plans to not only expand its employee base locally but globally as well. When Corrine Olson interviewed for a position at the company in the fall of 2020, it wasn’t simply the company’s culture that sealed her decision to join the team as an engineering manager. The fact that the company’s mission is tied so closely to employees’ day-to-day work is what keeps her motivated to this day, she said. Built in Seattle checked in with Olson to learn more about her decision to join the Remitly team and the company’s rapid growth. What was the deciding factor for you when you accepted your job at Remitly? When I had the opportunity to interview with Remitly, I already knew a fair bit about them. I knew they were a successful local startup in the fintech space and had frequently seen them at award ceremonies in Seattle. When I researched Remitly, I found an increasing volume of data that supported their mission to make the lives of immigrants better through financial inclusion. Everyone I talked to who worked at Remitly or knew someone who worked there said that the culture was amazing and the work was fulfilling. I really love having a mission, especially if it’s something I personally believe in, which is helping immigrants and fostering diversity in our country and elsewhere. Work is such a huge part of life and I wanted to be part of a company working towards the greater good. Remitly is the first company where I am a part of a team completely focused on customer success.” What excites you most about where your company is headed or the work you’ll do to help your company get there? I am a domain nomad. In my career, I have never had more than one job within the same space. I am always looking for something new where I can apply my diverse knowledge to unique problems. Besides being mission-driven, the work I have done is connected by a common thread, which is customer delight. I love making customers happy. Remitly is the first company where I am a part of a team completely focused on customer success. I am so excited to be a part of expanding the customer success technology team, which involves building a brand new team in Ireland to help with our risk and compliance workflows. I can’t wait to see what we do next.
Remitly Frequently Asked Questions (FAQ)
When was Remitly founded?
Remitly was founded in 2011.
Where is Remitly's headquarters?
Remitly's headquarters is located at 1111 3rd Avenue, Seattle.
What is Remitly's latest funding round?
Remitly's latest funding round is IPO.
How much did Remitly raise?
Remitly raised a total of $520.27M.
Who are the investors of Remitly?
Investors of Remitly include Visa, DN Capital, Stripes Group, Threshold Ventures, PayU and 25 more.
Who are Remitly's competitors?
Competitors of Remitly include TransferGo, Global66, MyBambu, Mesada, Payall and 7 more.
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Compare Remitly to Competitors
ZEPZ focuses on providing digital payment solutions. The company offers services enabling users to send money securely with options for bank deposit, cash collection, mobile airtime top-up, and mobile money. ZEPZ primarily serves the global payments industry. Zepz was formerly known as WorldRemit. It was founded in 2010 and is based in London, United Kingdom.
MoneyGram operates as a financial services company. The company offers services such as sending money to various locations worldwide, depositing money into bank accounts, and transferring funds to mobile wallets. It primarily serves individuals who need to send or receive money internationally. MoneyGram was formerly known as Integrated Payment Systems, It was founded in 2003 and is based in Minneapolis, Minnesota.
Payall operates as a cross-border payment processor for banks operating in the financial technology sector. The company offers automated compliance and risk management solutions to facilitate international transactions. Payall's technology provides a global platform with accounts and special-purpose payment processing for global payments, along with payout options for recipients. It was founded in 2018 and is based in Miami Beach, Florida.
TransferMate is a provider of B2B payments infrastructure as a service, enabling companies to send and receive cross-border payments. The company was founded in 2010 and is based in Kilkenny, Ireland.
Airwallex offers a payment platform for modern businesses. It allows customers to issue and pay international invoices and bills and offers domestic and international business accounts, company cards, and expense management through its integrated platform. The company was founded in 2015 and is based in Melbourne, Australia.
OFX (ASX: OFX) operates as a global provider of online international payment services. The company provides all-day payment tracking and money transfers to its clients. It was formerly known as OzForex. It was founded in 1998 and is based in Sydney, Australia.
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