Welcome to our dedicated page for Remitly Global news (Ticker: RELY), a resource for investors and traders seeking the latest updates and insights on Remitly Global stock.
Remitly Global, Inc. (RELY) operates at the forefront of digital remittance services, providing mobile-first solutions for secure cross-border money transfers. This news hub offers investors and stakeholders timely access to official updates, financial disclosures, and strategic developments shaping the company’s position in the global FinTech sector.
Discover comprehensive coverage of earnings reports, partnership announcements, product innovations, and regulatory compliance updates. Our curated collection ensures you stay informed about Remitly’s operational milestones, market expansions, and initiatives to enhance financial inclusion for immigrant communities worldwide.
Key updates include quarterly financial results, leadership changes, technology advancements in payment processing, and expansions into new markets. Each release is verified for accuracy, providing a trustworthy resource for analyzing Remitly’s growth trajectory and competitive strategies.
Bookmark this page for streamlined access to Remitly’s evolving story. Check back regularly to monitor how the company navigates regulatory landscapes, leverages digital transformation, and maintains its commitment to transparent, low-cost international money transfers.
Remitly Global, Inc. (NASDAQ: RELY) announced the appointments of Phyllis Campbell and Ryno Blignaut to its Board of Directors, enhancing its leadership team with decades of financial services and technology experience. Campbell, a former J.P. Morgan executive, has a notable history of driving customer-focused growth, including her tenure as CEO of the U.S. Bank of Washington. Blignaut, a Partner at Khosla Ventures, has extensive experience in the money transfer industry and leadership roles in tech companies, including serving as CFO of Xoom during its IPO. CEO Matt Oppenheimer expressed enthusiasm for their contributions to Remitly’s mission of providing digital financial services to immigrants. Current director Ron Shah will retire from the board effective June 14, 2023, to pursue other interests.
Remitly Global (NASDAQ: RELY) has announced that its management team will present at the Wolfe FinTech Forum on March 14, 2023, at 10:50 AM PT / 1:50 PM ET. The presentation will be available via live webcast on Remitly's investor relations website, with a replay accessible afterward. Remitly, serving over 170 countries, is a digital financial services provider focused on helping immigrants send money home safely and transparently. The company's innovative remittance app addresses the inefficiencies of traditional methods, and it is committed to expanding its product offerings for immigrants worldwide.
Remitly Global (NASDAQ: RELY), a prominent digital financial services provider for immigrants, will present at the JMP Securities Technology Conference on March 6, 2023, at 12:30 PM PT. The presentation will be accessible via a live webcast on Remitly’s investor relations website, with a replay available afterward. Remitly serves over 170 countries, offering a user-friendly platform for cross-border remittances, enhancing the money transfer experience for immigrants and their families. The company's mission is to simplify financial services for global migrants, reducing wait times and fees compared to traditional methods.
Remitly Global, Inc. (NASDAQ: RELY) has launched its outbound remittance service in the UAE, marking its entry into the Middle East. This expansion is part of Remitly’s growth strategy, adding the UAE as its 30th send country, with over 4,300 corridors worldwide. The UAE's remittance market is significant, as nearly 90% of its population consists of immigrants. Remitly's digital platform addresses challenges faced by these immigrants, like long wait times and cash handling risks. The company aims to leverage its existing partnerships in key recipient countries including India and the Philippines to provide reliable international payments for immigrant families.
Remitly Global, Inc. (NASDAQ: RELY) reported impressive growth for Q4 and full year 2022. Active customers surged by 48% year-over-year to 4.2 million, while send volume rose 35% to $8.1 billion. Revenue climbed 41% to $191 million in Q4, and 43% to $653.6 million for the full year. However, the company posted a net loss of $114 million for 2022. For 2023, Remitly expects revenue between $860 million to $880 million, representing a growth rate of 32% to 35%, while remaining in a GAAP net loss position. The company's focus on customer loyalty and technological advancement is anticipated to drive ongoing efficiencies and long-term returns.
Remitly Global, Inc. (NASDAQ: RELY) will report its fourth quarter and full year 2022 financial results on February 22, 2023, after market close. A conference call and live webcast for financial analysts will take place at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Investors can access the earnings call details through the provided links. Remitly, operational in over 170 countries, focuses on facilitating cross-border remittances for immigrants by enhancing user experience and reducing costs traditionally associated with money transfers. Founded in 2011 and headquartered in Seattle, the company continues to innovate and expand its suite of financial products.
Remitly Global, Inc. (NASDAQ: RELY) has successfully completed the acquisition of Rewire, an Israeli financial services platform for migrant workers, effective January 5, 2023. This acquisition enhances Remitly's geographic reach and diversifies its remittance product offerings. CEO Matt Oppenheimer emphasized the strategic alignment between the two companies, aiming to improve financial services for immigrants and their families. Remitly plans to leverage Rewire's innovative products to transform remittance processes for users across over 170 countries.
Remitly Global, a digital financial services provider for immigrants, announced that CFO Hemanth Munipalli will present at the Citi 2022 FinTech Conference on November 15, 2022, at 11:45 AM PT / 2:45 PM ET. The presentation can be viewed live on the company's investor relations website, with a replay available afterward. Founded in 2011 and headquartered in Seattle, Remitly operates in over 170 countries, offering a cross-border remittance app to facilitate secure and efficient money transfers for immigrants.
Remitly Global (NASDAQ: RELY) reported a strong Q3 2022, with active customers increasing by 49% year-over-year to 3.8 million, and send volume rising 44% to $7.5 billion. Revenue grew 40% to $169.3 million. Despite a net loss of $33.1 million and an Adjusted EBITDA of $(3.7) million, the company raised its revenue outlook for 2022 to $635-$640 million, indicating a growth rate of 38%-40%.
CEO Matt Oppenheimer emphasized the importance of customer resilience and the firm’s commitment to long-term growth.
Remitly Global, Inc. (NASDAQ: RELY) has announced its expansion into Japan and New Zealand, enhancing its services for immigrants. The company has facilitated $2.5 billion in remittance volume from the Asia-Pacific region. With Japan's remittances increasing to $8.25 billion in 2020 and New Zealand's personal remittances nearly quadrupling, Remitly aims to serve millions with over 150 transfer corridors. Their robust network supports 3.9 billion bank accounts and 705 million mobile wallets, driving faster and reliable money transfers.
