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 buys IP from Seattle startup Jargon; co-founders Milkana Brace and Jonathan Burstein join Remitly
Remitly has acquired intellectual property from Seattle startup Jargon and will hire Jargon co-founders Milkana Brace and Jonathan Burstein plus three staffers, while Jargon winds down operations; Remitly plans to use the technology to improve customer experience.
Remitly receives undisclosed equity investment from Visa as IPO preparations reported
Seattle remittance startup Remitly received an undisclosed equity investment from Visa while expanding a prior 2019 partnership, amid reports the company is preparing for an IPO; Remitly had raised nearly $400 million to date before this deal.
Remitly hires banks to prepare IPO at about $5B valuation, up from $1.5B in July
Seattle remittance startup Remitly has hired banks to prepare an IPO that Reuters says would value the company at about $5 billion, up from a $1.5 billion valuation in July; the company declined to comment.
Techstars Seattle launches 12th virtual cohort of 10 startups in January, achieves gender parity for first time
Techstars Seattle launched its 12th cohort as a fully virtual 3-month accelerator in January, applying lessons from the pandemic to expand investor outreach and eliminate commutes while accepting trade-offs in-person networking. The cohort of 10 startups — led to gender parity for the first time — includes alumni-backed ecosystem growth and highlights founders like Afriblocks operating across Harare and Los Angeles.
Remitly partners with Included as DEI tech market triples to $313M, helping scale diversity work with ML-driven analytics
Companies like Remitly are adopting DEI technology platforms (such as Included) that automate demographic data collection, analytics, and program tracking to scale diversity, equity, and inclusion work amid pandemic-driven remote work and heightened public scrutiny.
Founders’ Co-op’s Chris DeVore skips Auth0 seed due to competing investment, joins 2015 Series A and profits from Okta’s $6.5B acquisition
Seattle VC Chris DeVore of Founders’ Co-op missed Auth0’s 2014 seed because the firm already backed competitor Meldium, which was acquired in 2014 for $15 million; after that exit he joined Auth0’s $6.9M Series A in 2015 and saw the company acquired by Okta for $6.5B. DeVore says avoiding portfolio overlap is key and expresses gratitude to Auth0’s founders for allowing Founders’ Co-op to participate.
Founders’ Co-op closes $50M Fund V to back pre-seed and seed Pacific Northwest startups
Founders’ Co-op announced the close of its fifth fund, a $50M largest-to-date vehicle focused on pre-seed and seed investments in Pacific Northwest technical founding teams, highlighting the region's growth since 2008 and the firm's track record with over 200 portfolio companies.
Founders’ Co-op raises $50M fifth fund to back 20–25 Pacific Northwest early-stage startups
Seattle venture firm Founders’ Co-op raised a $50 million fifth fund, its largest to date, to invest in 20–25 early-stage startups across the Pacific Northwest. The larger fund reflects growing deal sizes and outside LP interest as the region sees record startup funding and more unicorns.
Techstars Seattle launches 12th cohort virtually, achieves first-ever gender parity among CEOs
Techstars Seattle announced its 12th cohort, which will run largely virtually using lessons from its 2020 remote program and starting a few weeks earlier to improve virtual connection. The 2021 class achieved gender parity among CEOs, and Techstars Seattle says virtual programming has not hurt fundraising and broadened investor interest.
Two Screens for Teachers raises support as founders seek $23M to supply 250,000 pandemic-strained educators; teen Avi Schiffmann built a widely used COVID-19 tracker
A roundup of positive tech, science, and education stories from 2020 highlights initiatives that helped during the pandemic, including Two Screens for Teachers providing monitors to school districts and a high school student, Avi Schiffmann, building a widely used COVID-19 tracker.
Seattle Reaches 10 Unicorns Worth $1B+, Mostly Enterprise Software Firms with Microsoft Links
Seattle now has 10 unicorn startups valued at $1 billion or more, many concentrated in enterprise software/cloud computing and driven by rapid digital transformation and strong revenue run rates. Most have immigrant founders and Microsoft ties, but none have female co-founders or CEOs.
Outreach CMO Margaret Arakawa departs; FlyHomes CMO Ryan Steingard joins Persona; Brian Goldfarb named Amperity CMO
Several Seattle-area marketing executives have changed roles: Margaret Arakawa left Outreach as CMO to pursue a new venture, FlyHomes CMO Ryan Steingard moved to chief growth officer at Persona, and Brian Goldfarb joined Amperity as CMO. Outreach recently raised $50 million in a Series F at a $1.33 billion valuation and serves over 4,000 companies.
Zenoti raises $160M Series D, reaches $1B valuation to expand enterprise software for 12,000+ salons, spas and wellness businesses
Bellevue-based Zenoti raised $160 million in a Series D that values the company at $1 billion; its enterprise software serves over 12,000 spas, salons and wellness businesses and has doubled revenue this year.
PNW Startups Raised $1.1B in Q3 2020 Across 65 Deals as Investors Keep Funding Amid Pandemic
Pacific Northwest startups raised $1.1 billion across 65 deals in Q3 2020, with funding in July and August exceeding last year’s levels as investors continue backing tech despite the pandemic.
GeekWire 200 CEO Survey: Most Seattle-Area Startups Report Little or No Pandemic Impact and Plan Hiring
A GeekWire 200 CEO survey of nearly 50 Pacific Northwest startup leaders found most report little or no negative impact from the pandemic, many plan to hire, and significant optimism about the regional economy over the next 18 months.
GeekWire: Pacific NW startups raise big rounds — Vacasa $108M, Remitly $85M, Auth0 $120M, OfferUp $120M, Outreach $50M; Qumulo hits $1B
Pacific Northwest privately-held tech startups raised large funding rounds and increased valuations during the 2020 economic crisis, with several firms hitting or exceeding $1 billion valuations and total H1 2020 investment of $2.3 billion across 135 deals.
Adam Schoenfeld’s Seattle Startup Hiring Tracker: 67% of 348 Seattle tech firms have openings, 2,620 roles; 42% grew headcount
A new Seattle Startup Hiring Tracker from entrepreneur Adam Schoenfeld shows 67% of 348 tracked Seattle tech companies have open roles (2,620 total), with 42% growing headcount month-over-month, 35% stable and 23% shrinking despite the pandemic.
Remitly raises $85M, reaches $1.5B valuation as digital remittance demand spikes during COVID-19
Remitly, a Seattle-based digital remittance platform, raised $85 million in new funding, valuing the company at $1.5 billion as customer growth surged amid the COVID-19 pandemic.
GeekWire Awards 2020 Goes Virtual; Ally Wins Startup of the Year as Bill Gates and Celebrities Celebrate
GeekWire held a virtual GeekWire Awards livestream honoring top Pacific Northwest tech companies and leaders across 12 categories, with winners accepting via Zoom and special video messages from figures like Bill Gates. Seattle startup Ally won Startup of the Year, and the event included entertainment such as The Drunken Tenorperforming an "Opera di Zoom."
Observa raises $725,000 from Paul Mikesell, Bill Bryant and Drew Bradley to scale AI retail-audit platform
Seattle startup Observa, which uses AI and crowd-sourced retail audits to track product displays and link them to in-store sales, closed a $725,000 financing round from notable investors and reported four-fold revenue growth and 23% average customer sales gains. The five-year-old company has 20 employees, has raised over $2 million to date, and counts investors including Paul Mikesell, Bill Bryant and Drew Bradley.
Seattle Startup CEOs Condemn Racism, Urge Action and Investment in Black Founders After George Floyds Death
Seattle startup leaders publicly condemned racism after George Floyd’s death and pledged concrete actions — including learning, speaking up, and pushing for investments in entrepreneurs of color — while noting tech’s role in inequality and recent moves like SoftBank’s $100 million fund.
Docugami doubles to 20 after $10M funding and keeps hiring amid widespread tech layoffs
Docugami, a Kirkland, Washington document-engineering startup, doubled its staff to 20 after a $10 million funding round in early February and continues hiring despite widespread tech layoffs. CEO Jean Paoli and new head of operations Hartley Riedner have onboarded remotely, reflecting a flipped labor market where some startups can recruit while larger firms cut jobs.
NVCA warns COVID-19 will slash venture capital and trigger widespread startup layoffs, after 30,000 cuts reported
The National Venture Capital Association warns that COVID-19 will cause a significant drop in venture capital investment, triggering more startup layoffs and a tougher fundraising environment; reports estimate 30,000 layoffs already and predict widespread workforce cuts over the next year. Impact varies by industry, with travel-related startups cutting large shares of staff while some well-funded companies fare better.
Techstars Seattle’s 2020 cohort shifts programming online, prepares for virtual Demo Day May 6 as startups pivot amid COVID-19
Techstars Seattle's 11th accelerator cohort of 10 startups began in February and has adapted to COVID-19 by moving in-person programming online, pivoting business models, and accelerating product development where needed ahead of a virtual Demo Day on May 6, 2020.
Remitly reports 100% customer growth and 40% transaction-volume increase from Feb–Mar as COVID-19 drives digital remittances
Seattle remittance startup Remitly experienced rapid growth during the COVID-19 pandemic, with customer numbers up 100% and transaction volume up 40% from February to March, as users shifted to digital transfers while physical providers closed. CEO Matt Oppenheimer said the crisis accelerated the company’s mission to provide safe, mobile cross-border payments for immigrants supporting families abroad.
People
See all 4-
Matt Oppenheimer Founder, Co-Founder, Executive Officer, Director, Co-Founder and Chairman
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Shivaas Gulati Founder, Co-founder
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Katie Drucker Executive, VP, GM High Value Senders
