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.
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