Remitly Global, Inc.
Company History
Remitly History: Founding, Growth & Key Milestones
Founded 2011 in Seattle, Washington, United States
When was Remitly founded?
Remitly was founded in 2011 in Seattle, Washington, United States by Matthew Oppenheimer, Josh Hug and Shivaas Gulati, making it 15 years old.
- Founded
- 2011
- Founding place
- Seattle, Washington, United States
- Founders
- Matthew Oppenheimer, Josh Hug and Shivaas Gulati
- Headquarters today
- Seattle, Washington
- Milestones documented
- 8 (2011–2026)
- Current CEO
- Sebastian J. Gunningham
- Acquisitions
- 3
| Year | Event |
|---|---|
| 2011 | Remitly is founded as BeamIt Mobile |
| 2012 | BeamIt becomes Remitly |
| 2013 | Philippines corridor validates the model |
| 2021 | Remitly goes public on Nasdaq |
| 2023 | Rewire acquisition closes |
| 2025 | Remitly reports first full year of GAAP profitability |
| 2026 | Sebastian J. Gunningham becomes CEO |
| 2026 | Active customers pass 10 million |
- Where was Remitly founded?
- Remitly was founded in Seattle, Washington, United States in 2011.
- Who founded Remitly?
- Remitly was founded by Matthew Oppenheimer, Josh Hug and Shivaas Gulati.
- When did Remitly start?
- Remitly was founded in 2011.
- How old is Remitly?
- Remitly is 15 years old as of 2026.
Founding Story
Matt Oppenheimer worked in mobile banking at Barclays in Kenya, where he saw how slow, costly and opaque international money transfers were for families. He returned to Seattle and in 2011 co-founded BeamIt Mobile with Josh Hug and Shivaas Gulati. The company went through the Techstars Seattle accelerator, renamed itself Remitly and focused on US-to-Philippines transfers first.
Founders
Matthew Oppenheimer
Matthew Oppenheimer co-founded Remitly in 2011 and was its CEO for nearly 15 years, taking it through a 2021 Nasdaq IPO and its first full year of GAAP profit in 2025. He handed the CEO role to Sebastian Gunningham on February 19, 2026 and became chairman. (Exact birth year remains publicly undisclosed).
Josh Hug
Josh Hug co-founded Remitly with Matthew Oppenheimer and Shivaas Gulati in 2011 and held senior operating roles as the company scaled, bringing startup experience from Shelfari. (Exact birth year remains publicly undisclosed).
Shivaas Gulati
Shivaas Gulati co-founded Remitly in 2011 alongside Matthew Oppenheimer and Josh Hug and worked on the early product and engineering of the remittance platform. (Exact birth year remains publicly undisclosed).
Key Milestones
Remitly is founded as BeamIt Mobile
Matthew Oppenheimer founded the company that became Remitly after seeing the pain of cross-border money movement while working abroad; Josh Hug and Shivaas Gulati joined as co-founders.
Source: remitly.comBeamIt becomes Remitly
The company sharpened its focus on digital remittances and adopted the Remitly name.
Source: remitly.comPhilippines corridor validates the model
Early remittance service to the Philippines helped Remitly test a digital-first alternative to agent-led money transfer.
Source: remitly.comRemitly goes public on Nasdaq
Remitly became a public company under ticker RELY, giving it capital and visibility for corridor expansion.
Source: sec.govRewire acquisition closes
Remitly completed its acquisition of Israeli migrant-finance platform Rewire, adding complementary geographies and account-based remittance capabilities.
Source: ir.remitly.comRemitly reports first full year of GAAP profitability
FY2025 revenue reached about $1.6 billion, send volume reached $74.9 billion, and net income was about $67.9 million.
Source: ir.remitly.comSebastian J. Gunningham becomes CEO
Remitly appointed Sebastian J. Gunningham CEO effective February 19, 2026; co-founder Matt Oppenheimer continued as Chairman.
Source: ir.remitly.comActive customers pass 10 million
Q2 2026 revenue rose 20% to $495.2 million, send volume rose 27% to $23.5 billion and quarterly active customers reached 10.2 million.
Source: barchart.comMajor Acquisitions
Rewire
2022Remitly 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.
Symphoni
2019Acqui-hired Seattle-based financial technology software startup Symphoni to accelerate core banking and compliance automation.
Passbook Digital Banking Platform
2020Launched and integrated dedicated everyday banking and debit card software designed specifically for multinational immigrants.
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Remitly Company History FAQ
When was Remitly founded?
Remitly was founded in Seattle in 2011 by Matthew Oppenheimer, Josh Hug and Shivaas Gulati under the name BeamIt Mobile and later renamed Remitly.
What was Remitly's first corridor?
Remitly started with transfers from the United States to the Philippines, which served as its proof of concept for a digital alternative to agent-based money transfer.
When did Remitly go public?
Remitly listed on the Nasdaq Global Select Market under ticker RELY in September 2021 through a traditional IPO priced at $43 per share.
What acquisitions has Remitly made?
Its main acquisition is Rewire, an Amsterdam- and Tel Aviv-based migrant-finance company, announced in August 2022 for about $80 million and closed in January 2023.
How has Remitly grown?
Revenue rose from $126.6 million in 2019 to $1.635 billion in 2025, and send volume reached $74.9 billion in 2025. Quarterly active customers passed 10 million in Q2 2026.
When did Remitly change CEOs?
Sebastian J. Gunningham succeeded co-founder Matt Oppenheimer as CEO on February 19, 2026; Oppenheimer became chairman.
When and where was Remitly founded?
Remitly was founded in 2011 in Seattle, Washington, by Matthew Oppenheimer, Shivaas Gulati, and Josh Hug, initially incorporated under the name Beamit before rebranding to Remitly.
What inspired Matt Oppenheimer to found Remitly?
While working for Barclays in Nairobi, Kenya, Matt Oppenheimer witnessed how difficult, expensive, and stressful it was for African migrant workers to send money home to their families through brick-and-mortar money transfer agents, inspiring him to build a mobile-first solution.
What accelerator program launched Remitly in Seattle?
In late 2011, Remitly was accepted into Techstars Seattle, receiving initial seed mentorship and funding from prominent Pacific Northwest tech angel investors (including Bezos Expeditions and Trilogy Equity Partners).
What was Remitly’s first remittance corridor?
Remitly launched its first money transfer corridor between the United States and the Philippines in 2012, followed by the massive US-to-Mexico corridor in 2013, perfecting real-time mobile bank and cash-pickup integrations.
When did Remitly go public on NASDAQ?
Remitly completed its initial public offering on the NASDAQ Global Select Market on September 23, 2021, under the ticker symbol RELY, raising $523 million at a valuation of approximately $7.0 billion.
How did Remitly expand its global footprint?
Remitly expanded from a single US corridor into a global network operating across more than 30 send countries (including Canada, UK, Eurozone, Australia) and over 170 receive countries across Latin America, Asia, and Africa.
What was the acquisition of Rewire in 2023?
In January 2023, Remitly acquired Israel-based financial services platform Rewire for approximately $81 million, expanding its geographic reach and adding customized banking features for migrant workers in Europe.
How has Remitly’s customer trust promise differentiated its platform?
Remitly pioneered the "Delivery Promise"—guaranteeing the exact minute money will arrive (with transfer fees refunded if delayed)—establishing deep customer trust and industry-leading retention.
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