Remitly

Remitly

Company type	Public
Industry	Financial services
Founded	2011 (2011)
Founder	Matthew Oppenheimer, Josh Hug, Shivaas Gulati
Headquarters	Seattle , United States
Area served	Worldwide (over 170 countries)
Products	Digital remittance services
Website	remitly.com

Remitly is a U.S.-based digital remittance platform headquartered in Seattle, United States, facilitating cross-border money transfers to more than 170 nations. Established in 2011 by Matthew Oppenheimer, Josh Hug, and Shivaas Gulati, the company became publicly traded on the Nasdaq stock exchange in September 2021.

History

Originally launched in 2011 under the name BeamIt Mobile, the company started as a remittance service search tool before pivoting to focus on money transfer services. The brand was changed to Remitly in August 2012.

In April 2013, Remitly began offering complimentary transfers to the Philippines, marking its entry into international markets. By 2017, the service was available throughout all 50 states in the U.S. By March 2018, customers from countries including the United States, United Kingdom, Canada, and Australia could send money to major destinations such as the Philippines, India, Mexico, and various Latin American countries.

The company's initial public offering on the Nasdaq in September 2021 raised close to $300 million via seven million shares, representing one of the largest recent IPOs originating from Washington state.

Services

By July 2024, Remitly supported sending funds from 30 countries across approximately 100 currencies to recipients in 170 countries. The service operates fully online, providing payout options including bank account deposits, mobile wallets, and cash collection at designated locations in certain regions.