Remitly
Facts
- HQ
- Seattle, Washington, USA
- Sectors
- Financial Services
- Founded
- 2011
- Type
- Corporation Seattle business license
- Employees
- 3415
- Registered name
- Remitly Inc Seattle business license
- Stage
- Public
- Total raised
- $80M SEC Form D filings Total of this company's SEC Form D filings
- Last round
- $80M · Nov 2017 SEC Form D
- Founders
- Matt Oppenheimer, Josh Hug, Shivaas Gulati
Remitly Signs Lease for Larger Seattle Headquarters at Rainier Square Tower, Plans Move in 2025
Remitly is relocating its Seattle headquarters to a larger office at Rainier Square Tower in downtown Seattle next year to enhance collaboration and in-person work. The company employs over 450 people in Seattle and aims to support return-to-office strategies amid a broader downtown recovery.
2024 GeekWire Awards on May 9 in Seattle to Honor Over 50 Pacific Northwest Tech Innovators
The 2024 GeekWire Awards event will be held on May 9 in Seattle to honor top innovators and leaders in tech from the Pacific Northwest, with over 50 finalists across multiple categories. Tickets are limited and the ceremony features awards, a dinner, and entertainment.
Techstars cuts executives and cancels flagship Seattle program as Y Combinator pulls ahead
Techstars, once a leading global accelerator, has been eclipsed by Y Combinator and is now facing executive departures, program closures, and the surprising termination of its flagship Seattle program; the article analyzes strategic choices that contributed to Techstars’ decline. The authors, familiar with Techstars through founding and running its Seattle program and corporate partnerships, offer an insiders’ view of decisions that strengthened YC while weakening Techstars.
Seattle Tech Leaders Advise on Overcoming Imposter Syndrome and Building Confidence at HBS Seattle Event
Seattle tech leaders, including Remitly CEO Matt Oppenheimer and Expedia CTO Rathi Murthy, shared advice on normalizing imposter syndrome, building self-confidence, and the value of mentorship during a Harvard Business School Club of Seattle discussion. They emphasized vulnerability, flexibility, and self-improvement as keys to effective leadership and workplace success.
Techstars Seattle Demo Day 2024 Unveils 24 Startups Poised to Rival 2011 Unicorn Trio Including Discoverist and TalkStack AI
The 2024 Techstars Seattle Demo Day showcased 24 startups, with experts optimistic that this cohort could rival the successful 2011 group that included three billion-dollar companies. Notable startups like Discoverist and TalkStack AI are leveraging AI for personalized retail recommendations and conversation analysis, respectively.
GeekWire Week in Review (May 14, 2023): Top stories include ex-CFO indicted over $35M crypto transfer, Bezos’ $500M yacht, and Amazon legal/personnel news
GeekWire's Week in Review for May 14, 2023 lists the site's most-read stories, including a Seattle startup ex-CFO indicted over an alleged $35M crypto transfer, Jeff Bezos' $500M yacht, and Amazon-related legal and personnel news.
GeekWire Names Adaptive Biotechnologies, Blink, Helion, Impinj, and Treasury4 as 2023 Workplace of the Year Finalists
The 2023 GeekWire Awards announced five finalists for Workplace of the Year—Adaptive Biotechnologies, Blink, Helion, Impinj, and Treasury4—highlighting their employee-friendly policies amid recent challenges. Winners will be revealed on May 18 following community voting and judge evaluations.
Seattle Startup Tribute Loses $3M Seed Funding When Lead Investor Bails Out, Receives $250K from Engage
Sarah Haggard's Seattle startup Tribute lost a $3 million seed funding round when the lead investor backed out, causing major setbacks including key staff departures. However, partial investment from Engage and interest from its partners enabled Tribute to continue pursuing opportunities and pivot its business model.
Amarjit Kaur Sandhu joins Ozette as VP of Engineering; AWS marketing chief Rachel Thornton to depart after 10 years
Amarjit Kaur Sandhu joined Ozette Technologies as vice president of engineering, bringing experience from Nuance Communications and Saykara. Additionally, AWS executive Rachel Thornton is leaving, and various leadership moves across Pacific Northwest tech firms have been announced.
Former Google engineering director Ankur Sinha named Remitly CTO; Karim Meghji to advisory role in February
Ankur Sinha, formerly a Google engineering director who oversaw Google Cloud’s commerce capabilities and previously spent 12 years at Microsoft, joined Remitly as chief technology officer. Several other Seattle-area tech and health hires and role changes are noted, including Karim Meghji shifting to an executive advisory role at Remitly at the end of February.
GeekWire updates Seattle list as Highspot raises $248M at $3.5B; SeekOut and Icertis added to 16 local unicorns
GeekWire updated its list of Seattle-area 'unicorn' startups (privately held companies valued at $1B+) after additions and a valuation change for Icertis, noting recent entrants like SeekOut and Highspot, which raised $248 million at a $3.5 billion valuation. The article highlights that the Seattle cohort includes 16 unicorns, none led by a female or Black CEO, and that many CEOs have Microsoft backgrounds amid a global surge in unicorns and venture funding.
Sarah Bird departs Moz after 14 years and seven-plus years as CEO following June acquisition by iContact (J2 Global)
Sarah Bird is leaving Moz after 14 years at the Seattle SEO software startup, including more than seven years as CEO; Moz was acquired by iContact (a J2 Global subsidiary) this past June and Bird transitioned to EVP and chief revenue officer of the Moz Group before announcing her departure. She plans to take the winter off to rest and has no firm next steps yet.
Remitly IPO Marks End of 10-Year Journey for Seed Investor Who Led Early Round and Served on Board
Investor and VC recounts Remitly’s IPO, celebrating the Seattle fintech’s public debut after a decade since he led its Seed round and served on the board, praising the founders’ methodical approach and noting the milestone’s importance to his investing career.
Remitly prices IPO at $43, values company near $7B and raises $300M+ as shares debut on NASDAQ
Remitly, a 10-year-old mobile remittance company, priced its IPO at $43 per share valuing the firm near $7 billion and raised over $300 million in net proceeds as it began trading on NASDAQ; shares opened at $53 and closed at $48.45 on debut. CEO Matt Oppenheimer framed the IPO as a step in the company’s mission to simplify cross-border money transfers for immigrants and their families.
Remitly prices IPO at $43, valuing Seattle fintech at $6.9B; shares open $53, close $48.45 on NASDAQ RELY
Remitly priced its IPO at $43 per share, valuing the Seattle fintech at about $6.9 billion and raising over $300 million in net proceeds; the stock opened at $53 and closed at $48.45 on its NASDAQ debut under ticker RELY. The company, founded in 2011, reported $202 million revenue and a $9.2 million net loss in H1 and competes with firms like Wise.
Former Maveron Investor Jason Stoffer Says He Was Wrong to Pass on Remitly as Company Nears $6.5B IPO
Maveron investor Jason Stoffer passed on investing in Seattle remittance startup Remitly in 2012 due to regulatory and market concerns but now says the company proved him wrong as it prepares a $6.5 billion IPO. Stoffer discusses his analysis of Remitly’s S-1, investing lessons, and related topics on the GeekWire Podcast.
'They proved me wrong.' Investor who passed on Seattle startup analyzes its IPO
Jason Stoffer was still early in his career at venture capital firm Maveron in 2012 when he declined an opportunity to invest in Remitly, then a fledgling Seattle startup with ambitions to challenge Western Union by bringing a tech mindset to the business of international money transfers. He was impressed by Remitly co-founders Matt Oppenheimer and Josh Hug but knew they faced a huge challenge in getting the state-by-state regulatory approval required to make monetary remittances to what was then their initial international market, the Philippines. "It felt like the end vision was powerful — if they can get there,"…
Remitly files to raise up to $332.6M in IPO at roughly $6.5B valuation with $38–$42 price range
Remitly set IPO terms expecting to raise $284.6 million (up to $332.6 million with overallotment) at $38–$42 a share, valuing the Seattle fintech about $6.5 billion. The company reported $202M revenue and a $9.2M net loss in the first half of the year and competes with firms like Wise and Zepz.
Remitly Global files for IPO to raise up to $294 million by selling 7 million shares at $42, ticker RELY
Seattle-based Remitly Global filed to go public aiming to raise up to $294 million by selling 7 million shares at up to $42 each, with its board and management planning to sell an additional 5,162,777 shares; the fintech serves predominantly immigrant customers sending money from several developed countries to over 115 destinations.
Startup secrets; Windows 11 launch; In defense of the Blue Yeti
A global pandemic might seem like the wrong time to pursue a new startup idea, given all the uncertainties, but in many ways, the timing couldn't be better. That's one of the insights from our GeekWire Podcast conversation this week with Seattle-area entrepreneur and investor Shirish Nadkarni, author of the book From Startup to Exit: An Insider’s Guide to Launching and Scaling your Tech Business. The changes in user behavior and tech platform shifts caused by the pandemic dovetail with one of the lessons Nadkarni is hoping to get across to entrepreneurs. "Look for opportunities where there is either some…
Remitly files S-1 ahead of IPO after 2020 revenue doubles to $257M and $1.5B valuation
Remitly filed an S-1 ahead of a conventional IPO, reporting $257M revenue and a $32.5M net loss for 2020 and $202M revenue with a $9.2M loss in H1 of the current year, with a $1.5B valuation from a July funding round and roughly $16.1B in trailing 12-month send volume.
Seattle startups raise record $3.1B in H1 2021, producing 12 local unicorns as Auth0 exits for $6.5B
Seattle-area startups raised a record $3.1 billion across 205 deals in H1 2021, driven by mega-rounds that produced at least 12 local unicorns and broader Pacific Northwest tech funding topping $5 billion. National VC activity and IPO/M&A dollar volumes are also surpassing prior records, with major exits like Auth0’s $6.5 billion acquisition by Okta highlighting regional maturation.
GeekWire 200 update: Remitly No. 3 as proposed IPO looms; Hootsuite debuts No. 6, Convoy rises to No. 7
GeekWire updated its GeekWire 200 list highlighting Pacific Northwest private tech startups amid record investment and M&A activity, with trends toward virtual experiences, at-home healthcare, remote education, and e-commerce. Notable rankings: Remitly at No. 3 (last valued $1.5B, proposed IPO), Hootsuite debuted at No. 6, Convoy rose to No. 7 (valued $2.75B in 2019), and Fabric jumped 26 spots to No. 95.
Seattle Tech CEOs — Icertis, Syndio, Qumulo, Remitly, Outreach, Convoy, Zenoti, Skilljar — Share First-Job Lessons That Shaped Their Careers
Seattle-area tech startup CEOs shared lessons from their first jobs—ranging from car washing to programming—highlighting practical skills, work ethic, and enduring lessons that shaped their leadership and product thinking.
Remitly confidentially files draft SEC registration for IPO as it eyes roughly $5 billion valuation
Remitly, a Seattle-based mobile remittance company founded in 2011, confidentially submitted a draft registration statement with the SEC for a proposed IPO while preparing for a potential $5 billion valuation; it previously raised $85 million in July at a $1.5 billion valuation and recently received an undisclosed equity investment from Visa.
People
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Katie Drucker Executive, VP, GM High Value Senders
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Sebastian Gunningham Executive, CEO
