Remitly
Remitly is a publicly traded digital remittance platform enabling mobile-first cross-border money transfers for migrant workers, SMBs and individuals, serving 9.6 million active customers across 175+ countries and 5,600+ corridors via app, web, WhatsApp, and ChatGPT.
- Company typePublic
- Founded2012
- HeadquartersSeattle, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Remitly does
Remitly is a Seattle-headquartered, publicly traded (NASDAQ: RELY) digital remittance platform that enables cross-border money transfers to more than 175 countries across 5,600+ corridors. Its core product is a mobile-first app and website that lets individual consumers send money internationally, with delivery options spanning bank deposit, cash pickup, debit-card receipt, and mobile wallet. The platform processed $74.9B of send volume in 2025 across 9.634M active customers (Q1 2026), up from roughly 2.8M customers at the 2021 IPO. Underlying technology combines proprietary disbursement infrastructure, AI-driven fraud prevention on transaction patterns, and a growing set of conversational and embedded surfaces — including WhatsApp Send (expanded to UK, Canada and Spain in April 2026), the first cross-border money transfer app inside ChatGPT (April 2026), and Visa Direct card-network integrations.
The company earns revenue primarily through transaction fees and foreign-exchange margins on cross-border transfers, with pricing varying by corridor, amount, payment method and delivery speed. Beyond the core consumer remittance product, Remitly operates a portfolio of adjacent offerings: Remitly Business (a B2B cross-border payments product launched Q2 2025 for SMBs paying international contractors and vendors, now exceeding 20,000 customers and expanded to Canada), Flex (a card-based Send Now, Pay Later product with >120,000 users), Remitly One (a subscription tier for frequent senders), and Remitly for Seafarers. Customer segments span individual migrant workers (primary), SMBs, freelancers, high-value senders (Q1 2026 growth of 73% YoY), and expat/student/seafarer cohorts.
The company's commercialization is product-led and self-serve — primarily inside the app and website, with WhatsApp and ChatGPT acting as additional top-of-funnel distribution layers. In FY2025 Remitly reported its first full year of GAAP profitability ($67.9M net income) on $1.635B of revenue, and provided FY2026 guidance of $1.960–1.975B with adjusted EBITDA margin expansion of ~250 bps. Leadership transitioned in February 2026 with co-founder Matt Oppenheimer moving to Executive Chairman and former Amazon S-Team SVP Sebastian Gunningham taking over as CEO.
Remitly firmographics
Firmographics- Name
- Remitly
- Legal name
- Remitly, Inc.
- Website
- https://remitly.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Remitly is a publicly traded digital remittance platform enabling mobile-first cross-border money transfers for migrant workers, SMBs and individuals, serving 9.6 million active customers across 175+ countries and 5,600+ corridors via app, web, WhatsApp, and ChatGPT.
- Ownership category
- akta.pro rank
Remitly industry classification
Industry- Product category
- Cross-Border Remittance
- akta.pro primary industry
- Consumer P2P International Remittances (FSAGAKAA)
- akta.pro secondary industries
- Consumer Remittances (P2P) (FSAMAIAA), Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), International / Multi-Currency Wallets (FSAMAEAL)
Keywords
Where Remitly is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Remitly business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Cross-border Remittance Transaction Fees: Remitly charges transaction fees on cross-border money transfers, typically varying by transfer amount, payment method, and delivery speed. The company also earns revenue through foreign exchange margins on currency conversions.
- Business Payments (Remitly Business): Revenue from B2B cross-border payment services for small and medium-sized businesses, including bulk payments and vendor/contractor payouts across 170+ countries.
- High-Value Sender Services: Remitly is expanding into larger transfers for real estate, savings, and business payroll, targeting high-value senders who generate higher transaction volumes and revenue per customer.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Personal Transfers |
| Transaction based/ take rate | Pay-as-you-go | Remitly Business - SMB Cross-Border Payments |
| Transaction based/ take rate | Pay-as-you-go | WhatsApp Send / Request Money |
| Transaction based/ take rate | Pay-as-you-go | Flex (Send Now, Pay Later) |
Go-to-market motion5 records
Distribution channels7 records
Marketing channels8 records
Remitly product offering
Product offeringCore offering
Remitly is a mobile-first digital remittance platform enabling cross-border person-to-person money transfers across 175+ countries, with $74.9B in annual send volume and 9.6M+ active customers. Funds can be delivered via bank deposit, cash pickup, debit card, or mobile wallet, and the platform is accessible via mobile app, web, WhatsApp, and ChatGPT. The company has expanded beyond personal remittances into business cross-border payments (Remitly Business) and adjacent products such as Send Now, Pay Later (Flex) and Remitly One subscription plans.
Product overview
Remitly operates as a mobile-first digital remittance platform providing cross-border money transfer services across 175+ countries. The core Remitly product serves individual consumers with personal remittances, while Remitly One offers subscription-based fee benefits for frequent senders. Remitly Business extends the platform to SMBs for cross-border contractor and vendor payments. Recent additions include Flex (BNPL-style card product), WhatsApp Send (chat-based transfers), and Request Money (recipient-initiated transfers). The company expanded its AI capabilities with ChatGPT integration and AI-driven fraud prevention, while growing from 2.8M to 9.6M active customers between 2021-2025, processing $74.9B in annual send volume.
Differentiator
Problem solved
Functional benefit
Brands
- Remitly Business: Cross-border payments app for small and medium-sized businesses, enabling payments to global teams, vendors, contractors, and partners in 170+ countries
- Remitly Flex
- Remitly Wallet
Quantifiable outcome
- Revenue grew 29% year-over-year to $1.635 billion in FY2025, with Q1 2026 revenue of $452.8 million up 25% YoY
- +9 more outcomes
Companies that use Remitly
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles5 records
Remitly technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability5 records
Feature7 records
Remitly partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered notable and core.
- TenPay Global (Tencent Financial Technology)notableTenPay Global partnered with Remitly as one of 60+ international banks and remittance institutions on its 'Remit to China for Non-Chinese Citizens' feature. Remitly enables international users with foreign passports to send remittances directly to China through TenPay's platform, supporting remittances from over 100 countries with funds arriving within minutes. This partnership expands Remitly's reach into the China corridor.
- Bre-B (Colombia National Instant Payment System)notableRemitly integrated Colombia's national instant payment system Bre-B (backed by Banco de la República) into its remittance network, enabling customers to send money to Colombia instantly around the clock using just the recipient's phone number, email, or national ID linked to a bank account or digital wallet. Bre-B has processed over 600 million transactions and accumulated more than 34 million registered users since its inception.
- ElektranotableRemitly partnered with Elektra (major Mexican retail/banking chain) to launch the 'Request Money' feature, enabling Mexican recipients to initiate transfer requests directly through WhatsApp without downloading an app. This leverages Elektra's customer base in Mexico for inbound remittance origination.
- Rewire (Rewire Research and Development Ltd.)coreRemitly acquired Israeli fintech Rewire for approximately $80 million in cash and stock (deal announced August 2022, closed January 5, 2023). The acquisition expanded Remitly's geographic footprint and product offerings, particularly in the Middle East. Remitly subsequently closed its Israeli R&D center in February 2026, laying off approximately 110 employees, signaling a strategic restructuring of the Israeli presence.
- VisacoreRemitly extended its partnership with Visa and received an equity investment from Visa. The partnership integrates Visa Direct, allowing Remitly customers in the US to send money quickly to Visa debit cards worldwide. Visa Direct leverages Visa's established card network to enable fast card-based disbursements for Remitly's remittance recipients.
Scale indicators14 records
Recent moves8 records
Expansion highlights7 records
Remitly competitors and assessment
Company assessmentMarket position
Strengths2 records
Competitive moat5 records
Key risks6 records
Key highlights8 records
Customer concentration
Remitly social profiles
Digital presenceRemitly compliance and trust
Trust signalCompliance4 records
Remitly financial estimates
Financial estimateRevenue estimate
Valuation estimate
Remitly leadership team
Management profileNumber of profiles
Profiles8 records
Remitly subsidiaries and ownership
Company hierarchySubsidiaries1 record
Remitly funding detail
Funding detailFunding overview
Funding rounds18 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Remitly M&A and investment
M&A and investmentM&A3 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Remitly
What does Remitly do?
Remitly is a mobile-first digital remittance platform enabling cross-border person-to-person money transfers across 175+ countries, with $74.9B in annual send volume and 9.6M+ active customers. Funds can be delivered via bank deposit, cash pickup, debit card, or mobile wallet, and the platform is accessible via mobile app, web, WhatsApp, and ChatGPT. The company has expanded beyond personal remittances into business cross-border payments (Remitly Business) and adjacent products such as Send Now, Pay Later (Flex) and Remitly One subscription plans.
Is Remitly a public or private company?
Remitly is a public company. It is classified as public and is currently operating.
When was Remitly founded?
Remitly was founded in 2012. It employs 1,001 to 5,000 people.
Where is Remitly based?
Remitly is headquartered in Seattle, United States, in the North America region.
How does Remitly make money?
Three revenue lines are on record. Cross-border Remittance Transaction Fees are the primary driver. The others are business Payments (Remitly Business) and high-Value Sender Services.
Does Remitly have an API?
No public API is recorded for Remitly.
What industry is Remitly in?
Remitly's product category is Cross-Border Remittance. Its primary akta.pro industry code is FSAGAKAA, Consumer P2P International Remittances, with a secondary code of FSAMAIAA, Consumer Remittances (P2P).