Provider Insights

Geographical Focus:

Remitly offers a robust and convenient digital money transfer service, enabling customers to send money across over 1,700 corridors. This global network allows for transactions to be completed seamlessly without the necessity of local operations in each country. Remitly’s primary customer base is located in the United States, Canada, the United Kingdom, various European countries, and Australia, with the United States being the largest send country by revenue.

Licenses:

UK: Remitly U.K., Ltd. is regulated by the Financial Conduct Authority (FCA) under reference number 728639 for the provision of payment services. It is also registered with HM Revenue & Customs as a money service business (registration number XCML00000174927) and with the UK Information Commissioner (registration ZA169080).
USA: Remitly Inc. is licensed and regulated as a money transmitter by the New York State Department of Financial Services.
EU: Remitly is licensed to provide services in Ireland by the Central Bank of Ireland and in certain EU countries including Germany, ensuring compliance with local and EU-wide regulatory standards.

Last Fundraising Round:

Before going public in 2021, Remitly completed its final private fundraising round in July 2020, where it secured $85 million in equity.

Investors:

The last round was led by PayU, with contributions from DN Capital, Generation Investment Management, Owl Rock Capital, Princeville, Stripes, Threshold Ventures, and Top Tier. Past investors includes Stripes Group, DFJ, Vulcan Capital, QED, Trilogy Equity Partners, DN Capital, Founders Co-Op, Bezos Expeditions, and TomorrowVentures. Prior to the IPO, Remitly had raised around $400 million in total funding.