CRED vs Remitly: Founders, CEOs and History
CRED was founded in 2018 by Kunal Shah and is led by Miten Sampat (interim CEO). Remitly was founded in 2011 by Matthew Oppenheimer, Josh Hug, Shivaas Gulati and is led by Sebastian J. Gunningham.
Company facts
Founders
CRED
Kunal Shah
Kunal Shah founded CRED in 2018 with a highly contrarian premise: instead of building financial products for the unbanked masses, he focused exclusively on the top 1% of India's most creditworthy individuals.
Remitly
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.
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).
CEOs and their tenures
CRED
- Kunal Shah2018–2026
Founder & CEO
Philosophy graduate of Wilson College and co-founder of FreeCharge; left CRED in June 2026 to become global head of WhatsApp at Meta.
Source - Miten Sampat2026–present
Interim Chief Executive Officer
As a key executive and former Times Internet executive, he drives the incredibly complex monetization strategy of the platform, attempting to justify its massive multi-billion dollar valuation.
Source
Remitly
- Matt Oppenheimer2011–2026
Co-founder and Chief Executive Officer
Led Remitly for nearly 15 years; became chairman when Sebastian Gunningham took over on February 19, 2026.
Source - Vikas Mehta2025–present
Chief Financial Officer
Leads financial planning, accounting, tax, investor relations and treasury; joined as CFO in 2025.
Source - Sebastian J. Gunningham2026–present
Chief Executive Officer
Gunningham took over a company coming off its first GAAP-profitable year and in Q2 2026 reported record revenue, adjusted EBITDA and net income while active customers passed 10 million.
Source
Timeline: CRED and Remitly side by side
2011Remitly
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.
2012Remitly
BeamIt becomes Remitly
The company sharpened its focus on digital remittances and adopted the Remitly name.
2013Remitly
Philippines corridor validates the model
Early remittance service to the Philippines helped Remitly test a digital-first alternative to agent-led money transfer.
2018CRED
Kunal Shah starts Dreamplug Technologies in Bengaluru and launches CRED, raising a reported $30 million seed round.
2019CRED
Raises a $120 million Series B led by Ribbit Capital.
2020CRED
Becomes an official IPL partner and launches CRED Cash personal credit lines.
2021CRED
Becomes a unicorn with a $215 million Series D at $2.2 billion, then a $251 million Series E at $4.01 billion; acquires HipBar and Happay.
2021Remitly
Remitly goes public on Nasdaq
Remitly became a public company under ticker RELY, giving it capital and visibility for corridor expansion.
2022CRED
Raises $140 million Series F led by GIC at a $6.4 billion valuation; acquires CreditVidya and takes a minority stake in LiquiLoans.
2023Remitly
Rewire acquisition closes
Remitly completed its acquisition of Israeli migrant-finance platform Rewire, adding complementary geographies and account-based remittance capabilities.
2024CRED
Acquires wealth platform Kuvera in February; FY24 revenue rises 66% to ~$287 million (₹2,473 crore).
2025CRED
Raises $72 million led by GIC in May at about $3.5 billion, a down round from its 2022 peak.
2025Remitly
Remitly 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.
2026CRED
Reports FY25 revenue of ~$317 million (₹2,735 crore); in June, Meta leads a $900 million Series H at about $4.5 billion, Kunal Shah joins Meta to lead WhatsApp and Miten Sampat becomes interim CEO.
2026Remitly
Sebastian J. Gunningham becomes CEO
Remitly appointed Sebastian J. Gunningham CEO effective February 19, 2026; co-founder Matt Oppenheimer continued as Chairman.
2026Remitly
Active 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.
Acquisitions
CRED
- Kuvera (BaralMusk Technology)2024Undisclosed
- CreditVidya2022Undisclosed
- Happay2021$180M
- HipBar2021Undisclosed
Remitly
- Rewire2022$80M
- Passbook Digital Banking Platform2020Undisclosed
- Symphoni2019Undisclosed
Questions about CRED vs Remitly
Who is the CEO of CRED and Remitly Global, Inc.?
CRED is led by Miten Sampat (interim CEO) and Remitly Global, Inc. is led by Sebastian J. Gunningham. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CRED founded vs Remitly Global, Inc.?
Remitly Global, Inc. was founded in 2011 — 7 years before CRED, which was founded in 2018. Remitly Global, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger CRED.
How many employees does CRED have compared to Remitly Global, Inc.?
CRED employs approximately 1,200 people, while Remitly Global, Inc. employs approximately 3,600. Remitly Global, Inc. has the larger workforce at 3,600 employees, compared to CRED's 1,200. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are CRED and Remitly Global, Inc. headquartered?
CRED is headquartered in India and Remitly Global, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded CRED and Remitly Global, Inc.?
CRED was founded by Kunal Shah. Remitly Global, Inc. was founded by Matthew Oppenheimer, Josh Hug, Shivaas Gulati.
Which company has a longer operating history — CRED or Remitly Global, Inc.?
Remitly Global, Inc. has been operating for approximately 15 years, making it the more established of the two companies. CRED has been in operation for around 8 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the CRED vs Remitly overview