Remitly

Valuation $21B

About Remitly

Remitly is a mobile payments service that enables users to make person-to-person international money transfers.
Headquarters Remitly, Seattle
Founded 2011-01-01
Industry Financial Services, FinTech, Payments
Last Funding Type Post Ipo Equity
Valuation 21
Total Funding $526.74 million dollars
IPO Status Public

Financial

In 2023, Remitly reported a 44% increase in revenue, reaching $944 million. Additionally, the company saw a 41% growth in its active customer base. Despite these positive trends, Remitly missed its Q1 2024 sales targets, resulting in a 20.7% drop in stock value. However, the company's earnings per share (EPS) for the first quarter of 2024 exceeded expectations.

Remitly is moving into a new headquarters office in downtown Seattle. The company reported first-quarter results with revenue up 32% year over year to $269.1 million but missed analysts' expectations. Shares fell 22.9% in the pre-market session following the report. Additionally, Remitly hired a new chief compliance officer from Google.
Funding Rounds 15
Number of Lead Investors 8
Total Funding Amount  $526.74 million dollars
Number of Investors 31

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