Remitly Global, Inc.
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Company History
Founded 2011 in Seattle, Washington
Remitly began after Matthew Oppenheimer saw how painful cross-border money movement could be while living and working abroad. Josh Hug and Shivaas Gulati joined as co-founders.
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.
The company sharpened its focus on digital remittances and adopted the Remitly name.
Early remittance service to the Philippines helped Remitly test a digital-first alternative to agent-led money transfer.
Remitly became a public company under ticker RELY, giving it capital and visibility for corridor expansion.
Remitly completed its acquisition of Israeli migrant-finance platform Rewire, adding complementary geographies and account-based remittance capabilities.
FY2025 revenue reached about $1.6 billion, send volume reached $74.9 billion, and net income was about $67.9 million.
Remitly appointed Sebastian J. Gunningham CEO effective February 19, 2026; co-founder Matt Oppenheimer continued as Chairman.
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.
Since its establishment in 2011, Remitly Global, Inc. expanded from an early-stage venture into a recognized leader in Digital cross-border payments and remittances, overcoming key market challenges.
Over its history, Remitly Global, Inc. executed decisive strategic pivots toward scalable monetization and digital distribution, securing its current market leadership.
By continually modernizing operations and embracing workflow automation, Remitly Global, Inc. maintains resilience through changing technological and economic cycles.