Remitly began in Kenya, where co-founder Matt Oppenheimer saw how much families depended on money sent by relatives working abroad. Sending it was slow, confusing, and expensive, and usually meant standing in line at a money-transfer counter. Remitly moved the whole thing onto a phone. By the time it went public in September 2021, it reached customers in more than 135 countries, and the pandemic had pushed many immigrants to send money online for the first time.

A Lesson in Kenya

Oppenheimer, Josh Hug, and Shivaas Gulati started the company in Seattle in 2011. It began as BeamIt Mobile, a search engine for remittance services, and took the name Remitly in 2012. The founders soon decided to move the money themselves. The bet was that immigrants would trust an app if it showed the fee and the exchange rate up front and delivered on time. Remitly built partnerships with banks, mobile wallets, and cash pickup points in each country.

Above the Range

Remitly priced its shares at $43 on September 22, 2021, above its range, and listed on Nasdaq under RELY. The stock rose about 13 percent on its first day. Growth continued as more customers moved from counters to phones, and in 2025 Remitly reported revenue of about $1.6 billion and a full-year profit. It also faced a short seller's report that year. Remitly still trades on Nasdaq under RELY.

Cover: Australia, News from Home, George Baxter. Art Institute of Chicago, public domain. Chosen for emigrants reading news from home.