Rewire
acquired by Remitly8 known investors
Rewire 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.
Also known as Rewire · Rewire Financial Services · RewireNow
Investors · 8
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Also in the syndicate · 4
Company profile
researched Aug 2026Rewire was a Tel Aviv, Israel-based cross-border financial services platform built for migrant and immigrant workers. Its core product was international remittance: customers created an account into which funds could be deposited and then sent home at any time, an approach intended to add flexibility relative to one-off transfers. Around the remittance core, Rewire layered additional financial products including payment accounts, bill payments, savings and mortgage loans, delivered through partnerships with financial institutions in both the migrant's country of origin and their country of residence.
The company served a customer base that had migrated to Europe from more than 20 countries in Asia and Africa, including the Philippines, Nigeria, India, Thailand and China, and it maintained several online communities for these groups. Founding co-founder and CEO Guy Kashtan has described the market opportunity as the more than 250 million migrants worldwide sending money to families at home, with Rewire monetizing by taking a small cut of each transfer at a price point roughly half that of local competitors at the time of launch.
Rewire was acquired by Remitly under a definitive agreement announced on 16 August 2022 for approximately $80 million in cash and stock. The rewire.com domain now resolves to Remitly's consumer money-transfer site, which advertises personal and business international transfers, service to more than 175 countries for sending and 130+ countries for receiving, delivery to bank accounts, mobile wallets and cash pickup locations, support in 18 languages, and, in select countries, the ability to hold and spend digital dollars (USDC) via a debit card.
Founding story
Guy Kashtan, who grew up near Tel Aviv, began coding as a teenager, studied computer science including a six-month exchange at the Wharton School, and spent about four years at Microsoft in Israel as a developer and then product manager before leaving to start a company. With co-founders Saar Yahalom, Adi Ben Dayan and Or Benoz, he targeted the financial needs of immigrants sending money home. Kashtan recounts that their first customer brought an envelope of cash to be sent abroad and then returned with five friends and more envelopes, with word-of-mouth referrals driving much of the company's growth in its early years.
Business model
Rewire operated a cross-border financial services platform for migrant workers. Customers opened an account into which money could be stored and remitted at any time, and the platform offered remittance and payment accounts plus additional financial services such as bill payments, savings and mortgage loans. Delivery of these services relied on strategic partnerships with financial institutions both in the migrant's country of origin and in their country of residence.
Rewire took a small cut of each money transfer, priced at approximately half the level of local competitors when it launched, according to co-founder and CEO Guy Kashtan.
Traction
Rewire raised $62M in total across rounds through Series B, grew from roughly 30 to 80 employees after a $12M round, and served customers originating from more than 20 countries in Asia and Africa before being acquired for approximately $80 million.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Rewire was one of a set of digital remittance providers targeting migrant workers; the acquirer, Remitly, is a global digital remittance provider whose management described Rewire's platform as complementary to its own cross-border payments focus.
Rewire positioned itself around a community-based approach to migrant customers and a lower price point — described by its CEO as roughly half the cost of local competitors at the time of entry — combined with a stored-value account model rather than one-off transfers, and country-specific offerings developed with local financial institutions and insurers.
Technology
A digital remittance and account platform accessible online, integrated with partner financial institutions in both origin and destination markets to enable transfers, bill payments, savings and lending products.
Go-to-market
Growth was driven substantially by word-of-mouth and customer referrals within migrant communities, supported by several online global communities the company operated for its customer segments, and by partnerships with financial institutions and insurers to deliver country-specific products.
Migrant and immigrant workers sending money to family in their countries of origin, primarily people who had moved to Europe from Asia and Africa.
Geography
Headquartered in Tel Aviv, Israel, with a customer base of migrants who had moved to Europe from more than 20 countries across Asia and Africa, including the Philippines, Nigeria, India, Thailand and China.
History
The company was founded by Guy Kashtan, Saar Yahalom, Adi Ben Dayan and Or Benoz and built a remittance business serving migrants, initially in Israel and later expanding across Europe. Funding progressed through a series of rounds — an early raise of roughly $300K sought at the outset, followed by $4M, $2M and $12M rounds that took headcount from about 30 to 80 people — culminating in a $25M round announced in February 2022 led by Migdal and total disclosed capital of $62M through Series B. In August 2022, Remitly signed a definitive agreement to acquire Rewire for approximately $80 million in cash and stock.
Compiled by commissioned research from 7 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.
Timeline · 2
launches, deals, and filingsRemitly announced a definitive agreement to acquire Rewire, an Israel-based financial services platform for migrant workers, for approximately $80 million in a mix of cash and stock. Rewire's remittance platform, product development and engineering teams were positioned as complementary to Remitly's cross-border payments business.
$80M source ↗
Rewire announced a $25M funding round led by Migdal, with participation from Glilot Capital Partners, Standard Bank of South Africa, BNP Paribas, Opera Tech Ventures, Viola Fintech, Moneta Capital Partners, Renegade Partners, OurCrowd, Yehuda Zisapel and Jerry Yang. Proceeds were earmarked for country-specific offerings, exemplified by a partnership with a pan-Asian insurance company allowing members to buy coverage for family members in their home countries.
$25M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
Thrive Holdings Raises $2 Billion to Buy and Rewire Services Firms With AI | PYMNTS.compymnts.com · Jul 2026▸Research sources · 7
primary sources listed
- Rewirerewire.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Rewire do?
- Israeli cross-border financial services platform for migrant workers, acquired by Remitly in 2022 for about $80 million.
- Who are Rewire's investors?
- Rewire's investors include Renegade Partners, GV (Google Ventures), Tiger Global Management, Viola FinTech.
- Who acquired Rewire?
- Rewire was acquired by Remitly.