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Remitly Global, Inc.

Digital cross-border payments and remittancesFounded 2011
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Remitly Acquisitions

3

Major Deals Covered

$80M

Disclosed Deal Value

What are Remitly's biggest acquisitions?

Remitly's largest disclosed acquisition here is Rewire for $80M in 2022. This page covers 3 major deals from 2019 to 2022, each with its price where disclosed and the reason behind it.

Major deals covered
3
Largest deal
Rewire ($80M)
First deal
2019
Most recent
2022
CompanyYearPricePurpose
Rewire2022$80.0MRemitly agreed to buy Amsterdam- and Tel Aviv-based Rewire, announced August 16, 2022, for about $80 million in cash and stock, to add complementary send geographies and an account-based migrant-finance product.
Symphoni2019UndisclosedAcqui-hired Seattle-based financial technology software startup Symphoni to accelerate core banking and compliance automation.
Passbook Digital Banking Platform2020UndisclosedLaunched and integrated dedicated everyday banking and debit card software designed specifically for multinational immigrants.
What companies has Remitly bought?
Major acquisitions by Remitly documented here include Rewire (2022), Passbook Digital Banking Platform (2020) and Symphoni (2019).
What is Remitly's most recent acquisition?
The most recent Remitly acquisition documented here is Rewire, in 2022, for $80M.

Rewire

2022

$80M

Why

Remitly agreed to buy Amsterdam- and Tel Aviv-based Rewire, announced August 16, 2022, for about $80 million in cash and stock, to add complementary send geographies and an account-based migrant-finance product.

Impact

Rewire, founded in 2015, brought account features for migrant workers such as debit cards and local accounts, a set of European and Middle Eastern send corridors, and an engineering team in Israel.

Outcome

The deal closed on January 5, 2023 and remains Remitly's only disclosed acquisition of meaningful size.

Source →

Passbook Digital Banking Platform

2020

Why

Launched and integrated dedicated everyday banking and debit card software designed specifically for multinational immigrants.

Impact

Eliminated Social Security Number (SSN) requirements for account creation by accepting international passports and ITINs.

Outcome

Expanded Remitly from transactional remittances into full-suite immigrant financial services.

Source →

Symphoni

2019

Why

Acqui-hired Seattle-based financial technology software startup Symphoni to accelerate core banking and compliance automation.

Impact

Integrated specialized engineering talent into Remitly's mobile money transfer platform.

Outcome

Bolstered developer velocity across global payout corridor infrastructure.

Source →

Remitly Global, Inc.'s Growth & Acquisition Strategy

Under CEO Sebastian Gunningham, Remitly is pursuing three paths: adding send and receive corridors, moving upmarket to higher-value senders and small businesses, and broadening into products beyond one-off transfers, including Remitly Flex, a wallet and card, and the Remitly One membership. Management has also credited AI-driven operating efficiencies with funding growth investment while lifting margins.

How Remitly Global, Inc. Makes Money

Remitly earns most of its revenue on each transfer a customer sends: a transaction fee that varies by corridor, speed and funding method, plus a foreign-exchange spread between the rate Remitly pays for currency and the rate shown to the customer. Costs sit mainly in payout-partner and payment-processing fees, marketing, fraud and transaction losses, compliance and customer support. Newer products such as Remitly Flex, Remitly Business, a wallet and card, and the Remitly One membership made up just over 1% of 2025 revenue, according to management on the Q4 2025 earnings call.

Remitly Acquisitions FAQ

What companies has Remitly acquired?

Remitly's only disclosed acquisition of note is Rewire, announced in August 2022 for about $80 million in cash and stock and closed on January 5, 2023.

Why did Remitly buy Rewire?

Rewire added European and Middle Eastern send corridors, account-based products for migrant workers, and an engineering team in Tel Aviv.

Does Remitly grow mainly by acquisition?

No. Growth has been mostly organic, through new corridors, customers and products, rather than acquisitions.

What was Remitly’s landmark acquisition of Rewire in 2023?

In January 2023, Remitly completed the acquisition of Israel-based financial services platform Rewire for approximately $81 million in cash and stock, expanding its European presence and adding specialized banking services for migrant workers.

Why was the Rewire acquisition strategically important for Remitly?

Rewire brought a strong customer base of cross-border workers in Europe, localized payment licenses, deep geographic corridors, and product capabilities in multi-currency debit accounts and localized salary deposits.

How has Remitly integrated Rewire’s technology team?

Remitly established a major product and engineering innovation center in Tel Aviv, Israel, integrating Rewire’s engineering team into core remittance infrastructure and mobile banking squads.

Does Remitly acquire physical brick-and-mortar money transfer agents?

No, Remitly strictly avoids acquiring brick-and-mortar storefronts or agent networks, focusing 100% of capital on digital mobile software and partnering with existing banks and retail chains for cash pickup.

How does Remitly evaluate future M&A opportunities?

Remitly’s corporate development team focuses on targets that accelerate regulatory licensing in new corridors, add complementary immigrant financial products (such as insurance or savings), or provide proprietary risk-scoring AI.

How does corporate development support Remitly’s global payout network?

Rather than acquiring foreign banks, Remitly signs long-term commercial partnership agreements with leading global payout networks (such as Visa Direct, Mastercard Send, and regional banking titans).

What was Remitly’s Passbook initiative and how was it developed?

Remitly developed Passbook internally as a specialized digital banking account for immigrants in the US, designed to accept foreign passports and ITINs rather than requiring US Social Security numbers.

What is Remitly’s future M&A outlook as a public company?

Under CEO Matt Oppenheimer, Remitly maintains a disciplined approach, prioritizing organic growth while selectively evaluating tuck-in fintech acquisitions that expand global licensing and customer lifetime value.

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ZerodhaCREDJupiter MoneyStarling BankN26

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.