Rewire
Rewire is an Israeli fintech startup that built a digital platform offering international money transfers, pre-paid debit cards, and insurance products for underbanked migrant workers globally, before being acquired by Remitly in January 2023.
- Company typePrivate
- Founded2015
- HeadquartersTel Aviv, Israel
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Rewire does
Rewire was an Israeli fintech startup founded in 2015 and headquartered in Tel Aviv that built a digital-first cross-border financial services platform aimed at underbanked migrant workers globally. Its core offering was international money transfer, distributed through mobile applications to users who could not easily access traditional bank accounts. The company layered adjacent products onto the remittance base: pre-paid debit cards (acquired through the June 2022 Imagen deal and issued in Israel) and insurance products — notably accidental death and paralysis coverage — developed in partnership with a pan-Asian insurance provider. Its go-to-market was product-led growth, relying on mobile app distribution and partnerships with regional financial institutions including Migdal, Standard Bank South Africa, BNP Paribas, and pan-Asian insurance providers.
Rewire monetized through transaction fees on remittances and recurring/subscription revenue on insurance attach products. The company raised approximately $57 million across multiple rounds between 2017 and 2022, with lead investors progressing from Moneta VC (2017) to Viola FinTech (2019), OurCrowd (2021), and Migdal (2022), each round larger than the last — indicative of escalating growth-stage momentum. Despite a product set covering three financial verticals, the team remained small at 1-10 employees, suggesting a lean platform play rather than a scaled operating business.
In January 2023, Remitly Global Inc. — a US-based digital financial services company serving 175+ countries — acquired Rewire, significantly expanding Remitly's footprint in the Middle East and integrating Rewire's migrant-focused platform into a much larger global remittance operator. Rewire's standalone corporate existence ended with the acquisition, though the brand, technology, and product capabilities were absorbed into Remitly's broader offering.
Rewire firmographics
Firmographics- Name
- Rewire
- Website
- https://rewire.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Rewire is an Israeli fintech startup that built a digital platform offering international money transfers, pre-paid debit cards, and insurance products for underbanked migrant workers globally, before being acquired by Remitly in January 2023.
- Ownership category
- akta.pro rank
Rewire industry classification
Industry- Product category
- Cross-border Remittances
- akta.pro primary industry
- Consumer P2P International Remittances (FSAGAKAA)
- akta.pro secondary industries
- Cross-Border & FX Payments Platforms (BPAMAFAK), Prepaid Reload Networks & Distribution (Retail Top-Up) (FSAMANAO), Cross-border/Remittance Neobanks (FSABAFAH)
Keywords
Where Rewire is headquartered
LocationHeadquarters
- HQ city
- Tel Aviv
- HQ country
- Israel
- HQ region
- Middle East
Offices1 record
Markets served
Rewire business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- International Money Transfers: Transaction fees from international remittance services for migrant workers sending money across borders
- Insurance Products: Insurance offerings including coverage for accidental death and paralysis, developed in partnership with a pan-Asian insurance provider
Go-to-market motion1 record
Distribution channels1 record
Rewire product offering
Product offeringCore offering
Rewire operates a digital financial services platform serving underbanked migrant workers, offering international money transfer (remittance) services, pre-paid debit card solutions acquired through Imagen, and insurance products (accidental death and paralysis coverage) developed in partnership with a pan-Asian insurance provider. The platform enables migrants who struggle to open traditional bank accounts to access essential cross-border financial services via mobile applications.
Product overview
Rewire is a financial services platform based in Tel Aviv, Israel, focused on serving migrants and underbanked populations. The company offers a suite of financial products including international money transfer services as its core platform, insurance offerings (accidental death and paralysis coverage), and pre-paid debit cards acquired through its acquisition of Imagen in June 2022. The platform enables migrants who struggle to open traditional bank accounts to access essential financial services.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Acquisition by Remitly in January 2023 validates market positioning
Companies that use Rewire
Customer profileSegments1 record
Ideal customer profiles1 record
Rewire technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Rewire partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Pan-Asian Insurance ProvidercoreRewire has a partnership with a pan-Asian insurance provider to develop and offer insurance products including accidental death and paralysis coverage for migrant customers.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
Rewire competitors and assessment
Company assessmentDirect peers
- Remitly Global Inc. Remitly acquired Rewire in January 2023 and serves as both parent and closest direct peer. Both focus on digital cross-border remittance for underbanked consumers, with similar mobile-first product delivery and target user profiles spanning migrants worldwide.
- Wise (formerly TransferWise): Wise is a leading digital-first cross-border payments platform serving consumers and businesses globally. It competes directly with Rewire's remittance offering with a multi-currency account and similar mobile delivery, though with a broader user base beyond the migrant niche.
- WorldRemit: WorldRemit is a digital remittance platform focused on serving migrants sending money to mobile wallets, bank accounts, and cash pickup locations globally. It directly overlaps with Rewire's migrant-focused digital remittance model and target customer base.
- Sendwave: Sendwave (acquired by WorldRemit) is a mobile-first remittance app focused on African diaspora corridors. It shares Rewire's focus on serving migrant populations via smartphone-based transfers with low fees.
- PaySend: PaySend is a UK-based digital remittance platform enabling card-to-card cross-border transfers to over 70 countries. It competes with Rewire's remittance core product and shares a similar mobile-first, low-fee positioning.
- Taptap Send: Taptap Send is a mobile remittance platform focused on serving migrant workers sending money to Latin America, Africa, and Asia. It shares Rewire's mobile-first, low-fee migrant-focused positioning and target demographic.
Broad incumbents
- Western Union: Western Union is the global incumbent in cross-border money transfer, with the largest agent network and broadest country coverage. While it operates a much larger legacy business, its digital channels directly compete with Rewire for migrant remittance flows.
- MoneyGram: MoneyGram is a major global cross-border money transfer operator with deep agent networks in emerging markets. It has shifted toward digital channels that compete with Rewire's mobile-first migrant remittance proposition.
Emerging players
- Revolut: Revolut is a global neobank offering multi-currency accounts and remittance as part of a broader consumer financial super-app. While broader in scope than Rewire, it increasingly competes for the same underbanked migrant customer base seeking digital financial access.
- N26: N26 is a European digital bank with multi-currency accounts and remittance features. It addresses similar underbanked migrant needs for digital financial access but competes more on the banking account proposition than remittance specifically.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
Rewire social profiles
Digital presenceRewire financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rewire leadership team
Management profileNumber of profiles
Profiles6 records
Rewire subsidiaries and ownership
Company hierarchySubsidiaries1 record
Rewire funding detail
Funding detailFunding overview
Funding rounds5 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rewire M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rewire
What does Rewire do?
Rewire operates a digital financial services platform serving underbanked migrant workers, offering international money transfer (remittance) services, pre-paid debit card solutions acquired through Imagen, and insurance products (accidental death and paralysis coverage) developed in partnership with a pan-Asian insurance provider. The platform enables migrants who struggle to open traditional bank accounts to access essential cross-border financial services via mobile applications.
Is Rewire a public or private company?
Rewire is a private company. It is classified as corporate owned and is currently acquired.
When was Rewire founded?
Rewire was founded in 2015. It employs 1 to 10 people.
Where is Rewire based?
Rewire is headquartered in Tel Aviv, Israel, in the Middle East region.
How does Rewire make money?
Two revenue lines are on record. International Money Transfers are the primary driver. The others are insurance Products.
Who are Rewire's main competitors?
Direct peers on record are Remitly Global Inc., Wise (formerly TransferWise), WorldRemit, Sendwave, PaySend and Taptap Send. Broad incumbents are Western Union and MoneyGram. Emerging players are Revolut and N26.
Does Rewire have an API?
No public API is recorded for Rewire.
What industry is Rewire in?
Rewire's product category is Cross-border Remittances. Its primary akta.pro industry code is FSAGAKAA, Consumer P2P International Remittances, with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms.