Remitly
Techstars '11Seattle, US · Founded 2011 · Delaware corporation · 3,384 employees on LinkedIn · 14 known investors
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Remitly is an international money transfer service that enables customers to send money across borders to multiple countries.
Also known as Remitly Global, Inc.
Founders & leadership
Remitly was founded in 2011 by Joshua Hug and Matt Oppenheimer.
Board
Investors · 14
Reported raises · per SEC filings
Form D private placements$134.9M disclosed across 4 of 5 rounds · 2013–2017
▶$80MraisedNov 2017 · 1 investors · Other Banking and Financial ServicesRule 506(b)
- Charles StonecipherDirector
- Matthew B OppenheimerExecutive Officer, Director
- Philip RieseDirector
- Ron ShahDirector
- Joshua HugExecutive Officer, Director
- Laurant le MoalDirector
- Krishnan SrinivasanExecutive Officer
- William BryantDirector
- Offering amount
- $115M
- Amount sold
- $80M
- Sales commissions
- $5M
- Placement agents
- FTP Securities LLC
- First sale
- Nov 2017
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$38.6MraisedApr 2016 · 10 investors · Other Banking and Financial ServicesRule 506(b)
- Krishnan SrinivasanExecutive Officer
- Charles StonecipherDirector
- William BryantDirector
- Ron ShahDirector
- Matthew B OppenheimerExecutive Officer, Director, Promoter
- Joshua HugExecutive Officer, Director, Promoter
- Chris DeVoreDirector
- Offering amount
- $38.6M
- Amount sold
- $38.6M
- Sales commissions
- $826.8K
- Placement agents
- FTP Securities LLC
- First sale
- Apr 2016
- Incorporated
- Corporation, Delaware, 2011
- Federal exemptions
- 06b
▶Undisclosed amountofferedJul 2015 · 40 investors · Other Banking and Financial ServicesRule 506(b)
- Chris DeVoreDirector
- Charles StonecipherDirector
- Hilton HewittExecutive Officer
- Joshua HugExecutive Officer, Director, Promoter
- Matthew B OppenheimerExecutive Officer, Director, Promoter
- Andrew LarsonExecutive Officer
- William BryantDirector
- First sale
- Jul 2015
- Incorporated
- Corporation, Delaware, 2011
- Federal exemptions
- 06b
▶$12.5MraisedMar 2015 · 6 investors · Other Banking and Financial ServicesRule 506(b)
- Matthew B OppenheimerExecutive Officer, Director, Promoter
- Hilton HewittExecutive Officer
- William BryantDirector
- Andrew LarsonExecutive Officer
- Joshua HugExecutive Officer, Director, Promoter
- Charles StonecipherDirector
- Chris DeVoreDirector
- Offering amount
- $12.5M
- Amount sold
- $12.5M
- First sale
- Mar 2015
- Incorporated
- Corporation, Delaware, 2011
- Federal exemptions
- 06b
▶$3.8MraisedJan 2014 · 21 investors · Other Banking and Financial ServicesRule 506(b)
- Charles StonecipherDirector
- Chris DeVoreDirector
- Matthew B OppenheimerExecutive Officer, Director, Promoter
- Joshua HugExecutive Officer, Director, Promoter
- Hilton HewittExecutive Officer
- Andrew LarsonExecutive Officer
- Offering amount
- $5.5M
- Amount sold
- $3.8M
- First sale
- Dec 2013
- Incorporated
- Corporation, Delaware, 2011
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Remitly operates a digital cross-border money transfer service used by individuals and businesses to send funds internationally from a mobile app or the web. Senders can fund transfers from a bank account, debit card or credit card, and recipients can receive funds to a bank account, a mobile wallet, or a cash pickup location. The company states a global footprint of more than 175 countries for sending, with receiving available in more than 130 countries, and describes itself as licensed and regulated in the countries where it operates, with product availability varying by jurisdiction.
Alongside the consumer remittance product, Remitly offers Remitly Business, which lets businesses pay global teams, vendors, contractors and partners, with support for business customers and recipients located in more than 170 countries and stated transparent pricing and delivery timelines. Users can also request and receive international payments from clients directly in the Remitly app. In selected countries, recipients can hold and spend digital dollars (USDC) using a debit card. The company also publishes a consumer-facing blog covering remittance corridors, fees and exchange-rate comparisons, remittance tax questions, and immigration-related topics.
Business model
Remitly moves money across borders for senders in one country to recipients in another, charging a per-transfer fee and applying an exchange rate on the transferred amount; it markets great rates, promotional offers and no hidden fees, and states it will refund fees if money is not delivered securely and on time. A separate business product handles payouts to global vendors, contractors and teams and inbound client payments.
Transfer fees and foreign-exchange pricing on consumer and business cross-border transactions, disclosed to the sender as a fee and total at the time of the transfer.
Traction
The Remitly app carries a 4.9-star App Store rating from more than 4.2 million ratings and a 4.8-star Google Play rating from more than 1.4 million ratings, and the company states it is trusted by millions of people worldwide.
Latest developments
Remitly promotes an expanded Remitly Business offering for paying global teams, vendors and contractors in 170+ countries and for requesting and receiving international client payments in the app, and has introduced the ability in select countries for recipients to hold and spend digital dollars (USDC) with a debit card. Its blog addresses a prospective 2026 U.S. federal remittance tax and states that Remitly transfers are not subject to such a tax.
▸Full profile — market position, technology, go-to-market, geography, risks & controversies
Market position
Remitly positions itself as a regulated global provider of digital remittance and cross-border payment services used by millions of customers, competing on price transparency, delivery speed and corridor coverage; its own comparison content places it directly against other digital transfer providers.
Broad corridor coverage with multiple payout options (bank account, mobile wallet, cash pickup), stated no hidden fees with a fee refund if a transfer is not delivered on time, multilingual support in 18 languages, licensing and regulatory compliance across operating markets, a dedicated business payments product, and optional USDC hold-and-spend functionality in select countries.
Technology
A mobile-first platform delivered through iOS and Android apps and a web experience, integrated with global banking and payout providers for bank deposits, mobile wallets and cash pickup. The company cites multiple layers of security to protect customer data and, in select markets, support for holding and spending USDC digital dollars via a debit card.
Go-to-market
Direct-to-consumer digital acquisition through the Remitly app on the App Store and Google Play and via remitly.com, supported by country- and corridor-specific landing pages, promotional rates and offers, SEO content on its blog (including fee and exchange-rate comparisons against competitors), and customer support in 18 languages. Remitly Business is sold as a separate offering for company payouts.
Individuals with financial lives across borders sending remittances for personal needs, recipients of funds abroad, and businesses that need to pay or collect from global teams, vendors, contractors, partners and clients.
Geography
Sending is available from markets including the United States to more than 175 countries; receiving is supported in more than 130 countries, spanning Latin America, Africa, South and Southeast Asia, the Middle East, Europe and Oceania. Headquarters are in Seattle, United States.
Risks & controversies
The company notes that product availability varies by jurisdiction and is subject to change, and that its services are not offered where Remitly or its affiliates are not licensed or authorized, underscoring dependence on money-transmission licensing and regulatory compliance across many countries. Results such as delivery speed may vary by corridor, and a potential U.S. federal remittance tax is an identified policy issue for the sector.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
4 people who came through Remitly went on to found or lead other companies.
Competitors · 4
by search overlap
Companies competing with Remitly for the same Google search keywords, organic and paid, via search-intersection analysis.
Acquisitions · 1
Early investors' stakes continue via these dealsRewire was an Israeli fintech company providing cross-border banking and remittance services for migrant workers, primarily in Israel and Europe. Acquired by Remitly in 2022.
Legal entities · 1
corporate structureIn the news
Remitly Global (RELY) Gains Attention On Remittance Tax Relief, Is It Still A Bargain? - Simply Wall St Newssimplywall.st · Jul 2026
Remitly raises another $38M as it pushes into emerging marketstechcrunch.com · Oct 2016▸Research sources · 1
primary sources listed
- Remitlyremitly.com · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Remitly do?
- Remitly is a cross-border payments provider for consumer remittances and business payouts across 175+ countries.
- Who founded Remitly?
- Remitly was founded by Joshua Hug, Matt Oppenheimer in 2011.
- Who are Remitly's investors?
- Remitly's investors include DN Capital, Prime Ventures, QED Investors, Scalare Partners, Stripes, Techstars, Threshold Ventures, Trilogy Equity Partners and 6 more.
- How much funding has Remitly raised?
- Remitly has disclosed $134.9M raised across 4 of its 5 known rounds.
- Where is Remitly headquartered?
- Remitly is headquartered in Seattle, US.