Remitly

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.

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

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

• Cross-border remittance
• Digital money transfer
• International payments
• Mobile remittance platform
• Foreign exchange services

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion5 records

Distribution channels7 records

Marketing channels8 records

Core 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

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature7 records

Partnerships

Five partnerships are on record, tiered notable and core.

• TenPay Global (Tencent Financial Technology)notableTechnology or Integration · 3 June 2026TenPay 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)notableTechnology or Integration · 27 May 2026Remitly 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.
• ElektranotableTechnology or Integration · 23 April 2026Remitly 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.)coreStrategic or Co-development Partner · 8 February 2026Remitly 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.
• VisacoreTechnology or Integration · 11 May 2021Remitly 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

Market position

Strengths2 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• Xx.com/remitly
• Facebookfacebook.com/Remitly
• LinkedInlinkedin.com/company/remitly

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds18 records

Investors29 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Remitly