Remitly - 2025 Company Profile, Funding & Competitors

Q: Where is Remitly located?

Remitly is located in Seattle, United States .

Remitly is a public company based in Seattle (United States), founded in 2011 by Shivaas Gulati, , and . It operates as a Cross-border money transfer using banking networks. Remitly has raised $1.65B in funding from investors like Generation Investment Management, PayU and IFC. The company has 431 active competitors, including 46 funded and 38 that have exited. Its top competitors include companies like Euronet Worldwide, Azimo and Xoom.

Sectors and market segments that Remitly operate in

Remitly serves in the B2C space in the FinTech market segments.The primary business model of Remitly is:

Company Details

Cross-border money transfer using banking networks. It allows users to send, receive, and transfer funds using bank deposits, UPIs, and cash accounts. Features current exchange rates, special offers, and bank-level security for users. The application can be accessed on iOS and Android devices.

Website
Social
Email ID: @remitly.com
Phone Number: +1

Key Metrics

Founded Year

2011

Location

Seattle, United States

Stage

Public

Total Funding

in 13 rounds

Latest Funding Round

Investors

Generation Investment Management & 37 more

Ranked

1^st among 431 active competitors

Annual Revenue

as on Dec 31, 2023

Employee Count

as on Dec 31, 2023

Investment & Acquisitions

Rewire &

Similar Companies

Euronet Worldwide &

Exit Details

Public

Legal entities associated with Remitly

Remitly is associated with 5 legal entities given below:

Date of incorporation	Revenue	Net Profit	Employee Count
Feb 02, 2023	-	564	101
Jun 07, 2017	-	964	433
Oct 02, 2018	$944M (as on Dec 31, 2023)	640	334
Jun 27, 2019	-	860	950
Dec 26, 999	-	442	260

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Remitly has raised a total funding of $1.65B over 13 rounds. Its first funding round was on Oct 26, 2011. Its latest funding round was a Series F round on Jul 29, 2020 for $85M. 10 investors participated in its latest round, lead by PayU and Generation Investment Management.

Remitly has 38 institutional investors including Generation Investment Management, PayU and IFC.

Here is the list of recent funding rounds of Remitly:

Date of funding	Funding Amount	Round Name	Post money valuation	Revenue multiple	Investors
Jul 29, 2020	$85M	Series F	$1.5B	-	PayU, Generation Investment Management, Owl Rock, DN Capital, Princeville Capital, Threshold, Top Tier Capital Partners, Stripes, Prudential, Schroders
Jul 09, 2019	$85M	Conventional Debt	-	-	Barclays, Goldman Sachs, SVB, Western Alliance Bank
May 31, 2019	$1.35B	Series E	-	-	Generation Investment Management, Prudential, Top Tier Capital Partners, Schroders, DN Capital, PayU, Princeville Capital, Owl Rock, Stripes

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View details of Remitly's funding rounds and investors

The founders of Remitly are Shivaas Gulati, , and . is the CEO of Remitly. has founded 1 more company - Shelfari.

View details of Remitly's Founder profiles and Board Members

Remitly's employee count trend

Remitly has 2,700 employees as of Dec 23. The total employee count is the same as what it was in Dec 22. Here is Remitly's employee count trend over the years:

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Top competitors of Remitly include Euronet Worldwide, Azimo and Xoom. Here is the list of Top 10 competitors of Remitly, ranked by 秘密研究所 score :

Overall Rank	Company Details	Short Description	Total Funding	Investors	秘密研究所 Score
1st	2011, Seattle (United States), Public	Cross-border money transfer using banking networks	$1.65B	Goldman Sachs, Vulcan Capital听&补尘辫;听	78/100
2nd	Euronet Worldwide 1994, Leawood (United States), Public	Electronic payments provider	-	Advent International, Innova Capital听&补尘辫;听	79/100
3rd	Azimo 2012, London (United Kingdom), Acquired	Banking channel for cross-border money transfers	$68.8M	SVB, Lagfe听&补尘辫;听	77/100
4th	Xoom 2001, San Francisco (United States), Acquired	Banking channel for cross-border money transfers	$106M	DAG Ventures, New Enterprise Associates听&补尘辫;听	75/100
5th	BookMyForex 2011, Gurugram (India), Acquired	Online Money Exchange and Remittances	$5.59M	Faering Capital听&补尘辫;听	72/100
6th	OFX 1998, Sydney (Australia), Public	International money transfer service provider.	-	The Carlyle Group, Accel	72/100
7th	NALA 2017, Nairobi (Kenya), Series A	Online cross-border remittance platform for individuals	$50.1M	Bessemer Venture Partners, Accel听&补尘辫;听	71/100
8th	Small World FS 2005, London (United Kingdom), Acquired	An international money transfer service provider	-	MMC Ventures, Samos Investments听&补尘辫;听	70/100
9th	WireBarley 2016, Seoul (South Korea), Series B	Online platform for cross-border money transfer.	$16M	Tech Incubator Program for Startup, Magna听&补尘辫;听	69/100
10th	Pangea Money Transfer 2012, Chicago (United States), Acquired	Money transfer through banking channels	$19.4M	Jump Capital, HPA听&补尘辫;听	69/100

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Remitly has acquired 3 companies including Rewire, Symphoni and Talio. Remitly has not made any investments as of now. Here is the list of its acquisitions: