Renaissance Capital logo

Remitly Global Priced, Nasdaq: RELY

Provides a mobile payment service for international money transfers.

Industry: Technology

Latest Trade: $48.45 0.00 (0.0%)

First Day Return: +12.7%

Return from IPO: +12.7%

Industry: Technology

The inspiration behind Remitly came when Matt, our co-founder and Chief Executive Officer, was working in Kenya. There, Matt realized how reliant some families were on the money sent from their loved ones working abroad. He also saw how difficult it was to send and receive money overseas – the process was painful, opaque, and expensive. This first-hand look at cross-border remittances was an eye-opener, and Matt became convinced there was a better way. In 2011, Josh and Shivaas, our two other co-founders, joined Matt to start Remitly and began working on the problem immediately. Their goal was to make a difference for immigrant communities by using technology to initially disrupt traditional cross-border remittances. Today, Remitly is a leading digital financial services provider for immigrants and their families in over 135 countries around the world. Looking back over the last ten years, we have remained committed to our initial goal: to help millions of immigrants send money home in a safe, reliable, and transparent manner. The long-term, trusted relationships we foster with our customers have enabled us to expand our core cross-border remittance product to over 1,700 corridors worldwide and extend our offering to a broader suite of financial services.
more less
IPO News for Remitly Global
more
IPO Data
IPO File Date 08/30/2021
Offer Price $43.00
Price Range $38.00 - $42.00
Offer Shares (mm) 12.2
Deal Size ($mm) $523
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 09/22/2021
Offer Price $43.00
Price Range $38.00 - $42.00
Offer Shares (mm) 12.2
Deal Size ($mm) $523
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
more
Company Data
Headquarters Seattle, WA
Founded 2011
Employees 1,600
Website www.remitly.com