Rewire
2022
$80M
Why
Remitly agreed to acquire Israeli fintech Rewire for about $80 million in cash and stock, announced August 16, 2022, to expand into new send corridors and account-based remittance products beyond one-time transfers -- its largest acquisition to date. Remitly's leadership described the deal as consistent with a broader strategy of adding capabilities through smaller, complementary acquisitions rather than large, transformative mergers, preserving the company's core organic-growth-driven remittance business. The deal was funded through a mix of cash and Remitly stock.
Impact
Rewire, founded in 2015 with offices in Amsterdam and Tel Aviv, gave Remitly migrant-worker-focused account features including debit cards, local IBAN payment accounts, and insurance products -- a broader financial-services layer on top of pure money transfer -- along with remittance corridors geographically complementary to Remitly's existing footprint. The acquisition also brought Rewire's engineering team into Remitly's product organization, accelerating development of account-based features that Remitly has since extended to customers well beyond the original Rewire markets. Because Rewire was Remitly's first and largest acquisition to date at the time, the integration process also established internal playbooks for evaluating, pricing, and absorbing future fintech acquisitions that the company has referenced in subsequent, smaller deals.
Outcome
The deal formally closed on January 5, 2023, supporting Remitly's shift from a single-purpose remittance app toward a fuller cross-border financial-services platform. Remitly has continued to expand Rewire's original account-based product concept, extending debit-card and local-account features into additional corridors beyond the Israeli fintech's initial European and Middle Eastern footprint. It remains Remitly's only completed acquisition of meaningful size as of 2026.