Remitly Global Inc
NASDAQ:RELY
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Remitly Global Inc
In the ever-evolving landscape of digital finance, Remitly Global Inc. has carved a niche by addressing an age-old need: international money transfers. Founded in 2011, this Seattle-based company leverages technology to transform the way people send money across borders. While traditional money transfer services often come with high fees and sluggish service, Remitly offers an alternative rooted in efficiency and customer-centric solutions. Using a mobile-first strategy, the company provides an easy-to-navigate platform that enables users to send funds directly from a smartphone app, touching lives significantly in regions with underserved financial infrastructures. The process is seamless—after users link their bank accounts or debit cards, they can send money to over 100 countries, where recipients can then collect it in local currencies through bank deposits, cash pickups, or mobile wallets.
Remitly's revenue model is straightforward yet effective. The company charges a transaction fee for each transfer, which can vary based on currency, amount, and delivery speed. Additionally, they earn a margin on the foreign exchange rates offered to customers, which is slightly above the mid-market rate. By keeping these charges competitive, Remitly not only maximizes its potential customer base but fosters loyalty in a sector where trust is tantamount. This business model has driven rapid growth, positioning Remitly as a trusted partner for millions of immigrants and expatriates who rely on safe, timely money transfers to support their families and communities back home. In essence, Remitly thrives by marrying modern technology with fundamental human connections, redefining cross-border financial services in an increasingly interconnected world.
In the ever-evolving landscape of digital finance, Remitly Global Inc. has carved a niche by addressing an age-old need: international money transfers. Founded in 2011, this Seattle-based company leverages technology to transform the way people send money across borders. While traditional money transfer services often come with high fees and sluggish service, Remitly offers an alternative rooted in efficiency and customer-centric solutions. Using a mobile-first strategy, the company provides an easy-to-navigate platform that enables users to send funds directly from a smartphone app, touching lives significantly in regions with underserved financial infrastructures. The process is seamless—after users link their bank accounts or debit cards, they can send money to over 100 countries, where recipients can then collect it in local currencies through bank deposits, cash pickups, or mobile wallets.
Remitly's revenue model is straightforward yet effective. The company charges a transaction fee for each transfer, which can vary based on currency, amount, and delivery speed. Additionally, they earn a margin on the foreign exchange rates offered to customers, which is slightly above the mid-market rate. By keeping these charges competitive, Remitly not only maximizes its potential customer base but fosters loyalty in a sector where trust is tantamount. This business model has driven rapid growth, positioning Remitly as a trusted partner for millions of immigrants and expatriates who rely on safe, timely money transfers to support their families and communities back home. In essence, Remitly thrives by marrying modern technology with fundamental human connections, redefining cross-border financial services in an increasingly interconnected world.
Revenue Beat: Remitly reported Q3 2025 revenue of $419.5 million, up 25% year-over-year, exceeding guidance by $7 million.
Profitability: Adjusted EBITDA was $61.2 million (15% margin), also $7 million above guidance, and the company delivered positive GAAP net income of $8.8 million.
Strong Customer Growth: Quarterly active customers rose 21% to nearly 8.9 million, with send volume per customer up 11% year-over-year.
Business & High-Amount Senders: Business users on the platform neared 10,000 and business send volume nearly doubled sequentially; high-amount senders (> $1,000) saw 40% increase in send volume year-over-year.
Product Momentum: Remitly’s Flex product reached over 100,000 active users, with revenue nearly doubling sequentially; early results show strong repayment and minimal losses.
2025 & 2026 Outlook: Q4 2025 revenue is guided to $426–428 million (21–22% growth), with full-year 2025 revenue expected at $1.619–1.621 billion (28% growth). Initial 2026 guidance is for high-teens revenue growth.
Margin Discipline: The company expects to maintain balanced investment in growth and efficiency, with a focus on expanding margins and disciplined capital allocation.
