Remitly has revolutionized how people send and receive money internationally. With its intuitive user interface, users can transfer money to more than 135 countries in just a few clicks. Founded in 2011 by Matthew Oppenheimer, Josh Hug, and Shivaas Gulati, Remitly has since grown to be one of the largest online remittance companies in the world.
In 2021, Remitly became a publicly traded company on the Nasdaq exchange. With a top-notch customer experience, Remitly makes it easier for customers to send their loved ones abroad money in an efficient and secure manner.
| Points | Information |
| Company Name | Remitly |
| Founder Name | Matthew Oppenheimer (CEO) Josh Hug (COO) Shivaas Gulati (Head of Engineering) |
| Owner | Matthew Oppenheimer (CEO) Josh Hug (COO) Shivaas Gulati (Head of Engineering) |
| Date of Establishment | 2011 |
| Headquarters | Seattle, United States |
| Revenue | $256 million (2020) |
| CEO | Not Available |
| Registered Address | • 1111 3rd Avenue Suite 2100 Seattle, WA 98101 • 7th Floor, Penrose Two, Penrose Dock, Cork, Ireland |
| Phone | Not Available |
| Company Status | Active |
| Website | remitly.com |
History
Remitly was founded in 2011 as BeamIt Mobile, initially serving as a search engine for remittance services. After recognizing the potential of money transfers, Remitly changed its name from BeamIt to Remitly in August 2012 and began allowing money transfers to the Philippines for free in April 2013.
This made the Philippines their first international destination for money transfers. As the company expanded its services, by March 2018, Remitly was allowed to operate in the United States, United Kingdom, Canada, and Australia. This allowed them to send money to the Philippines, India, Mexico, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, and Peru.
In September 2021, Remitly went public on the Nasdaq exchange with a successful initial public offering of seven million shares raising approximately $300 million in new funding. The move solidified Remitly’s position as one of the leading money transfer companies in the world.
Founders
Matthew Oppenheimer
Matthew Oppenheimer is an experienced business leader. He is Co-Founder & CEO at Remitly. He is also serving on the Board of Directors for BECU, the largest community-based credit union in the country. Prior to his board appointment, Matthew was an Entrepreneur in Residence at Highway 12 Ventures, Head of Mobile and Internet Banking Initiatives at Barclays Kenya, and Director, United Kingdom & Ireland at Barclays Corporate.
With a degree in Psychology from Dartmouth College, Matthew earned his Master of Business Administration (MBA) at Harvard Business School in 2009. Throughout his career, Matthew has been driven by a desire to make a difference and improve the lives of others.
Josh Hug
Josh Hug is the COO and Co-founder at Remitly, a digital remittance company. Prior to joining Remitly, Josh was the CEO of Shelfari, an online social network built on the Amazon platform. He also co-founded Healfari, which focused on developing healthcare software products.
Josh earned his Bachelor of Science in Computer Science and Mathematics from Whitworth University in 2000. He brings 20 years of experience leading engineering, product, and operations teams to his current role. Josh is passionate about helping immigrants and unbanked people send money safely and inexpensively across borders.
Shivaas Gulati
Shivaas Gulati is the co-founder of Remitly and an experienced angel investor. He currently serves as a Member Board of Trustees for RAVE Foundation. He also works as an Angel Investor in tech companies such as Fi Tech, Comet and Heard.
Shivaas holds a Master’s degree in eBusiness Technology from Carnegie Mellon University, a Bachelor’s degree in Computer Science from Wilkes University and a B.Tech in Information Technology from Inderprastha Engg. College.
Service
As of September 2021, Remitly enables people in 17 countries to transfer money in around 75 currencies to 115 different countries, with the transactions taking place electronically and not at physical locations. Furthermore, recipients in many countries can also receive funds via mobile money and at bank and post office branches.
Remitly Logo
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