Remitly
Remitly
Type of site | Private |
|---|---|
| Available in | Multilingual |
| Founded | May 23, 2011[1] |
| Headquarters | Seattle, Washington, U.S. |
| Founder(s) | Matthew Oppenheimer, Josh Hug, and Shivaas Gulati.[2] |
| Key people | Matthew Oppenheimer, Co-founder and CEO[2] |
| Industry | Internet |
| Website | www.remitly.com [11] |
| Alexa rank |  38,242 (May 2019)[3] |
| Commercial | Yes |
| Registration | Required |
| Current status | Active |
Remitly is an American mobile payment service company which provides international money transfers. The website was launched in April 2012.[4]
Type of site | Private |
|---|---|
| Available in | Multilingual |
| Founded | May 23, 2011[1] |
| Headquarters | Seattle, Washington, U.S. |
| Founder(s) | Matthew Oppenheimer, Josh Hug, and Shivaas Gulati.[2] |
| Key people | Matthew Oppenheimer, Co-founder and CEO[2] |
| Industry | Internet |
| Website | www.remitly.com [11] |
| Alexa rank | 38,242 (May 2019)[3] |
| Commercial | Yes |
| Registration | Required |
| Current status | Active |
Overview
The company was originally named Beamit, Inc and changed its name in August, 2012 to Remitly.[4] Remitly is a digital service company for sending international money transfers from one country to another. Remitly accounted for four times the $135 billion dollar the global foreign aid sent in 2015, according to the World Bank.[5] Remitly processes an average of $1 billion in transactions per year.[6]
The company generates revenue by charging fees and by exchange rate mark ups.[7]
Financing
Remitly has received investment from Jeff Bezos' company Bezos Expeditions and Eric Schmidt's TomorrowVentures company.[8][9]
In October 2017, Remitly raised up to $115 million from PayU, another financial payments provider.[10]