RELY

Remitly Global, Inc.

A Seattle-based digital platform for sending money across borders, letting people in one country instantly transfer funds to friends and family abroad through an app. It earns revenue from transfer fees and exchange-rate spreads on consumer remittances. The idea was born when co-founder Matt Oppenheimer, working for a bank in Kenya, saw how costly and slow it was for immigrants to send money home. Launched in 2011 as BeamIt Mobile, it later renamed itself Remitly as a play on the word "remit" — the technical term for a money transfer.