Shares are expected to be priced at USD 38 to USD 42 per share, valuing Remitly at around USD 6.5 billion at the midpoint of the price range. Remitly’s last valuation was USD 1.5 billion in July 2021.
Founded in 2011, Remitly’s mobile technology lets people send and receive money across borders, including immigrants in the US and UK who support families back home in countries such as the Philippines, India, El Salvador, and others. The service eliminates forms, codes, and agents typically associated with the international money transfer process.
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