Remitly Global, which provides a mobile payment service for international money transfers, filed on Monday with the SEC to raise up to $100 million.
Remitly states that it is a leading digital financial services provider for immigrants and their families in over 135 countries. The company has expanded its core cross-border remittance product to over 1,700 corridors worldwide and extend its offering to a broader suite of financial services. As of June 30, 2021, over 85% of its customers engaged with Remitly via its mobile app.
The Seattle, WA-based company was founded in 2011 and booked $354 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol RELY. Remitly Global filed confidentially on June 9, 2021. Goldman Sachs, J.P. Morgan, Barclays, Citi, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
