Remitly

Secure cross-border digital money transfer services on a best-in-class mobile technology platform

The Story

Remitly was founded by Matt Oppenheimer and Josh Hug in 2011 after Matt spent time living and working abroad in developing countries where he saw how expensive and inconvenient it was to send money internationally. Matt and Josh saw an opportunity to leverage mobile phones in both emerging and developed nations to give people more security, transparency, and lower pricing when sending money home to loved ones. Since coming out of Techstars Seattle in Fall 2011, Remitly has grown rapidly and now operates in 49 U.S. states including Washington D.C. as well as Canada to send over $1 billion annually (and growing) to the Philippines, India, and Mexico.

Since initially beginning conversations in late 2014, Stripes Group got to know Matt and Josh over the course of 2015 and admired their consistent execution and ability to build faster, more affordable and more secure solutions for their customers. When they decided to raise a Series C financing in early 2016, they decided to partner with Stripes due to our operational experience with transactional web businesses and building strong consumer internet brands. We are thrilled to be working with Remitly as they begin their next stage of growth, expanding their best-in-class platform and trusted brand to new emerging markets and empowering people across the world to send money affordably and securely.