Remitly aims to raise up to USD 332 million at USD 6.5 billion

Wednesday 15 September 2021 14:09 CET | News

Remitly, a US-based fintech, has aimed to secure USD 332 million if underwriters purchase additional shares.

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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Keywords: online payments, money transfer, cross-border payments
Categories: Payments & Commerce | Online Payments
Countries: United States
This article is part of category

Payments & Commerce