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Founded Year

2011

Stage

IPO | IPO

Total Raised

$520.27M

Date of IPO

9/23/2021

Market Cap

3.60B

Stock Price

18.52

Revenue

$0000 

About 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.

Headquarters Location

1111 3rd Avenue Suite 2100

Seattle, Washington, 98101,

United States

844-604-0924

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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.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Financial Services / Payments Tech

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.

P

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.

T

Tech IPO Pipeline

282 items

Track and capture company information and workflow.

F

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.

D

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
patents chart

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

Remitly Is Hiring — and They’ve Got Ambitious Plans for the Future

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 Logo
Zepz

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.

M
MoneyGram

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.

P
Payall

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 Logo
TransferMate

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 Logo
Airwallex

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 Group Logo
OFX Group

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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