Remitly
Money transfer app
A US-headquartered, Nasdaq-listed digital remittance app focused on immigrants sending money home, operating in the UAE through a DIFC-licensed subsidiary.
Last updated June 2026
At a glance
- Founded
- 2011 — founded as BeamIt Mobile by Matt Oppenheimer, Josh Hug and Shivaas Gulati; renamed Remitly in August 2012.
- Headquarters
- Seattle, Washington, USA (parent Remitly Global, Inc.). UAE entity registered at Unit C502B, Level 5, Burj Daman, Al Mustaqbal Street 312, DIFC, Dubai.
- Legal entity
- Remitly Global, Inc. (parent, Delaware-incorporated). UAE services are provided by its subsidiary Remitly (DIFC) Limited.
- Regulation
- UAE: Remitly (DIFC) Limited is an Authorised Firm regulated by the Dubai Financial Services Authority (DFSA) to Provide Money Services, DFSA Firm Reference No. F00663, authorised since 29 November 2022 and operating from the Dubai International Financial Centre (DIFC) — this is the DIFC/DFSA financial free-zone framework rather than a Central Bank of the UAE retail exchange-house licence
- Parent Remitly Global, Inc. is a US public company (Nasdaq: RELY) subject to SEC reporting and audited financial disclosure
- Operates as a licensed/registered money transmitter across its other markets, including US states and (per company disclosures) jurisdictions such as the UK and Canada
Is Remitly safe and trustworthy?
Available evidence points to a well-established, regulated operator, though users should still verify live pricing for their specific transfer. The company was established in 2011 (as BeamIt Mobile) and has operated its remittance service since 2012–2013; its parent is a Nasdaq-listed public company that files audited financials with the SEC, and the company reports reaching full-year GAAP profitability in 2025 alongside roughly $74.9 billion of annual send volume. Its UAE arm is a DFSA-authorised firm (Firm Reference F00663, authorised since 29 November 2022) operating in the DIFC. Consumer ratings are reportedly strong, with around 4.6 out of 5 on Trustpilot across 90,000-plus reviews as of 2025.
History of Remitly
Remitly was established in 2011 in Seattle as BeamIt Mobile by Matt Oppenheimer, Josh Hug and Shivaas Gulati, and rebranded to Remitly in August 2012. Its first international corridor launched in April 2013 with transfers to the Philippines. The company built a mobile-first, digital-only model aimed at immigrants remitting to family, expanding its origin and destination markets over the following decade. It now enables transfers in roughly 100 currencies to 170-plus countries.
Growth and scale
Remitly has scaled rapidly. The company reports full-year 2025 send volume of $74.9 billion (up 37% year over year) and revenue of approximately $1.6 billion (up 29%), versus $54.6 billion of volume and roughly $1.26 billion of revenue in 2024. Per company figures, active customers grew to about 9.3 million by the fourth quarter of 2025, up roughly 19% year over year. As a digital app it operates with no retail branches, serving 170-plus destination countries; from the UAE it advertises transfers to 175-plus countries, including major corridors such as India, Pakistan, the Philippines and Bangladesh.
Where it stands today
Active and publicly traded on Nasdaq under ticker RELY (IPO completed September 2021). The company reports its first full year of GAAP profitability in 2025, with GAAP net income of $67.9 million and Adjusted EBITDA of $272.2 million. Following its fourth-quarter 2025 results, Remitly announced a CEO transition: co-founder Matt Oppenheimer is moving to Chairman of the board, and Sebastian Gunningham (a former Santander and Amazon/WeWork executive) was named incoming CEO, with a stated strategy to expand in consumer payments and apply AI across the product. The company's stated 2026 revenue guidance is roughly $1.94–1.96 billion.
Does Remitly give the best rate?
Remitly typically presents a transparent, upfront model: the app shows the exchange rate, a flat transfer fee and the exact amount the recipient will receive before the customer confirms. It usually offers tiered delivery options (a faster/Express tier and a cheaper/Economy tier), where the slower option carries lower fees and often a better effective rate. Pricing varies by corridor, payment method (card-funded transfers generally cost more than bank-funded) and the speed chosen, and first-transfer promotions are common. The best value on any given day and corridor should be confirmed via live comparison.
Compare Remitly's live rateWho Remitly is best for
UAE-based expatriate workers sending remittances to family in high-volume corridors such as India, Pakistan, the Philippines and Bangladesh; users who prefer an app-only, no-branch experience with upfront pricing and a choice between faster (Express) and cheaper (Economy) delivery, including bank deposit, cash pickup and mobile-wallet options in supported markets.
Compare Remitly by destination
Sources
- Remitly User Agreement — United Arab Emirates (DFSA licensing, Remitly (DIFC) Limited, Ref. F00663)
- Remitly Reports Fourth Quarter and Full Year 2025 Results Above Outlook (Investor Relations)
- Remitly Global, Inc. — Q1 2025 earnings press release (SEC Form 8-K)
- Remitly — Wikipedia (history, founders, BeamIt, IPO, countries)
Important — please read
Last updated June 2026. This page is provided for general information only and is compiled from publicly available sources, accurate to the best of our knowledge at the date shown. Information can change and may contain errors or omissions. Rate Wala is an independent comparison service and is not affiliated with, endorsed by, or acting on behalf of Remitly.
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