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Pankaj Sharma, Chief Business Officer at Remitly Global (RELY -2.05%), sold 21,000 shares of common stock on Aug. 28, 2026, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$554,000Shares sold21,000Post-transaction shares (directly held)716,022Post-transaction value$19 millionTransaction value based on SEC Form 4 weighted average sale price ($26.39); post-transaction value based on Aug. 28, 2026, market close ($26.55).

Key questionsWhat was the regulatory context of this transaction?
This sale was executed automatically pursuant to a Rule 10b5-1 trading plan that Sharma adopted on Nov. 18, 2025, which allows insiders to set up a predetermined schedule for selling company stock.How does this sale affect the executive's total equity exposure?
Following the sale of 21,000 shares, the executive maintains a significant direct position of 716,022 shares, representing a market value of $19 million as of the Aug. 28, 2026, market close.What is the recent market performance of Remitly Global equity?
As of the transaction date on Aug. 28, 2026, Remitly Global shares delivered a total return of 44% over the past year, while the company continues to provide digital financial services for international money transfers in nearly 150 countries.Company OverviewMetricValueShare Price (as of market close 2026-08-28)$26.55Market Capitalization$5.2 billionRevenue (TTM)$1.8 billionNet Income (TTM)$305 millionCompany SnapshotRemitly Global operates a digital financial services platform specializing in international money transfers and remittances, generating revenue primarily from transaction fees and foreign exchange margins. Remitly is available in 130+ countries.The company employs a direct-to-consumer digital model that enables people to send money to their families in emerging markets, leveraging technology to reduce costs and improve accessibility relative to traditional remittance providers.Remitly's primary customer base consists of individuals in developed markets who regularly transfer funds to family members in developing economies, with particular concentration in Latin America, Asia, and Africa.Remitly Global is a leading digital remittance platform serving the global diaspora market with approximately $1.8 billion in TTM revenue and $305 million in net income, demonstrating strong profitability within the fintech infrastructure sector. The company has achieved a market valuation of $5.2 billion, reflecting investor confidence in the secular growth trends within cross-border payments. With 3,200 employees, Remitly maintains a competitive advantage through its technology-driven platform, which delivers faster, more transparent, and lower-cost remittance solutions than traditional money transfer operators.

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What this transaction means for investorsOn Aug. 28, Sharma sold 21,000 shares in a transaction valued at approximately $554,000. On the surface, that sounds like a lot of stock to dispose of, which could make shareholders worry that it signals something may be amiss with the company. But with the available details and some context, this appears to be just a routine sale. For instance, while Sharma sold 21,000 shares, the insider still holds 716,022 shares. That shows continued alignment with Remitly's near- and long-term success.

Also, it's important to consider the stock price's performance. Thus far in 2026, Remitly shares are up nearly 80% as of this writing. In comparison, the S&P 500 is up 12.1%. With such a strong performance, it would make sense that an insider may want to take some of those gains off the table. And finally, this trade was also established under a plan created all the way back in November 2025. That shows this wasn't a knee-jerk or rushed decision, as the trading plan was established almost a full year ago. Taken together, this sale is indicative of routine activity and not something for shareholders to worry about.

Jupiter Topco LLC bought a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 75,057 shares of the financial services provider’s stock, valued at approximately $1,682,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Remitly Global in the 2nd quarter worth $410,752,000. Generation Investment Management LLP purchased a new position in Remitly Global during the second quarter valued at $109,637,000. Bank of America Corp DE lifted its holdings in Remitly Global by 471.7% during the first quarter. Bank of America Corp DE now owns 5,153,726 shares of the financial services provider’s stock valued at $80,759,000 after purchasing an additional 4,252,294 shares in the last quarter. Lead Edge Capital Management LLC acquired a new stake in shares of Remitly Global in the second quarter valued at about $60,232,971. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Remitly Global by 86.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock valued at $90,530,000 after purchasing an additional 2,567,446 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.

Remitly Global Stock Up 0.4% Remitly Global stock opened at $26.92 on Friday. The company has a fifty day simple moving average of $24.43 and a 200-day simple moving average of $20.76. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 19.37 and a beta of 0.36. Remitly Global, Inc. has a 52-week low of $12.08 and a 52-week high of $27.48.

Remitly Global (NASDAQ:RELY – Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.81. The business had revenue of $495.16 million for the quarter, compared to analysts’ expectations of $486.25 million. Remitly Global had a return on equity of 33.33% and a net margin of 16.85%.The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, research analysts anticipate that Remitly Global, Inc. will post 0.85 EPS for the current fiscal year. Insider Activity at Remitly Global In other Remitly Global news, insider Pankaj Sharma sold 21,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $26.39, for a total value of $554,190.00. Following the completion of the sale, the insider directly owned 716,022 shares of the company’s stock, valued at $18,895,820.58. This trade represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nigel W. Morris sold 20,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $26.26, for a total transaction of $525,200.00. Following the transaction, the director directly owned 1,831,056 shares in the company, valued at approximately $48,083,530.56. The trade was a 1.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 502,771 shares of company stock valued at $12,328,147 in the last three months. Company insiders own 6.53% of the company’s stock.

Wall Street Analyst Weigh In RELY has been the subject of several research analyst reports. Wolfe Research upped their price target on shares of Remitly Global from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded Remitly Global from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of Remitly Global in a research note on Thursday, August 6th. Cantor Fitzgerald increased their target price on Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Zacks Research raised Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.78.

View Our Latest Analysis on RELY

Remitly Global Profile (Free Report)

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.

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While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.

Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.

Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.

There are several stocks that passed through the screen and Remitly Global, Inc. (RELY - Free Report) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.

A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. RELY is quite a good fit in this regard, gaining 48.7% over this period.

However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 11.4% over the past four weeks ensures that the trend is still in place for the stock of this company.

Moreover, RELY is currently trading at 97.8% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.

Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.

So, the price trend in RELY may not reverse anytime soon.

In addition to RELY, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

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Shares of Remitly Global (RELY +4.32%) were up 17.4% in August, according to data from S&P Global Market Intelligence. The remittance platform has recently hit a 52-week high after building strong momentum following its recent quarterly earnings report in early August.

The remittance disruptor is growing quickly and, at the same time, showing a positive inflection in profit margins. Here's why the stock is soaring, and whether it is too late to buy shares today.

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Strong earnings growth On August 5th, Remitly reported earnings for the second quarter of 2026. Investors were shown yet again that the platform is take share of the remittance market.

Total send volume grew 27% to $23.5 billion, revenue grew 20% to $495 million, and active customers grew 20% to 10.2 million. These are all well outpacing the growth of the international money transfer market and are a key reason why Remitly shares keep climbing.

Most importantly, Remitly is showing Wall Street that it can grow while simultaneously expanding its profit margins. Operating margin was a record 13.5% last quarter, driving significant year-over-year growth in operating earnings. Its efficiency in marketing spend and product development indicates that Remitly's customers actually love its product, because it provides an easy way to send money around the globe from their smartphones for a lower fee than legacy competitors.

Image source: Getty Images.

Is it too late to buy? Remitly is closing in on processing $100 billion in payment volumes every year. This is well below the global addressable market for remittances, which is in the tens of billions when you include all geographies and the new segments Remitly is targeting, such as business transfers and high-dollar-value senders.

This should lead to continued growth in send volume in the years ahead. Total revenue will grow slower than send volume because of a compressing take rate at scale, but I expect it to grow in the double digits as well.

Remitly is guiding revenue to reach just under $2 billion this calendar year. If revenue grows at 15% annually over the next three years, it will reach $3 billion. Profit margin is the big question, but with an operating margin already at 13.5%, it is not unreasonable to expect a business with a 60% gross margin to reach a 20% margin at greater maturity. That would be $600 million in annual earnings power.

After this latest stock pop, Remitly's market cap is $5.6 billion, which is still under 10x earnings based on these financial estimates a few years out. That makes the stock cheap, despite it trading near a 52-week high.

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 1:

Bloomin' Brands, Inc. (BLMN - Free Report) : This multi-concept restaurant operator company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.1% over the last 60 days.

Bloomin's shares gained 31.9% over the last three months compared with the S&P 500’s decline of 1.6%. The company possesses a Momentum Score of A.

Remitly Global, Inc. (RELY - Free Report) : This cross-border payment company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.8% over the last 60 days.

Remitly Global's shares gained 33.2% over the last three months compared with the S&P 500’s decline of 1.6%. The company possesses a Momentum Score of A.

Crawford & Company (CRD.B - Free Report) : This insurance services company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.1% over the last 60 days.

Crawford & Company's shares gained 19.6% over the last three months compared with the S&P 500’s decline of 1.6%. The company possesses a Momentum Score of B.

See the full list of top ranked stocks here

Learn more about the Momentum score and how it is calculated here.

Key Takeaways NUTX, RCMT, RELY and BDC show strong net margins and upward EPS revisions for the current fiscal.All four stocks have a Zacks Rank of 1 or 2 and a VGM Score of A or B, indicating solid upside potential.Each company has surpassed the Zacks Consensus Estimate for earnings in the last reported quarter. The primary purpose of a business is to generate profits that can be reinvested in expansion or distributed to reward shareholders. The net profit margin is an effective tool for measuring the profits a business reaps.

A higher net margin underlines a company’s efficiency in translating sales into actual profits. This metric offers insight into how well a company is run and the headwinds weighing on it. Nutex Health Inc. (NUTX - Free Report) , RCM Technologies, Inc. (RCMT - Free Report) , Remitly Global, Inc. (RELY - Free Report) and Belden Inc. (BDC - Free Report) boast solid net profit margins.

Net Profit Margin = Net profit/Sales * 100.

In simple terms, net profit is the amount a company retains after deducting all costs, interest, depreciation, taxes and other expenses. Net profit margin can turn out to be a potent point of reference to gauge the strength of a company’s operations and its cost-control measures.

A higher net profit is essential for rewarding stakeholders. Strength in the metric not only attracts investors but also draws well-skilled employees who eventually enhance the value of a business.

A higher net profit margin compared with its peers provides a company with a competitive edge.

Pros and ConsNet profit margin helps investors gain clarity on a company’s business model in terms of pricing policy, cost structure and manufacturing efficiency. A strong net profit margin is preferred by all classes of investors.

However, net profit margin, as an investment criterion, has its share of pitfalls. The metric varies widely from industry to industry. While net income is a key metric for investment measurement in traditional industries, it is not that important for technology companies.

The difference in accounting treatment of various items — especially non-cash expenses like depreciation and stock-based compensation — makes comparison a daunting task.

For companies preferring to grow with debt instead of equity funding, higher interest expenses usually weigh on net profit. In such cases, the measure is rendered ineffective while analyzing a company’s performance.

The Winning StrategyA healthy net profit margin and solid EPS growth are the two most sought-after elements in a business model.

Apart from these, we have added a few criteria to ensure maximum returns from this strategy.

Screening ParametersNet Margin 12 months – Most Recent (%) greater than or equal to 0: High net profit margin indicates solid profitability.

Percentage Change in EPS F(0)/(F-1) greater than or equal to 0: It indicates earnings growth.

Average Broker Rating (1-5) equal to 1: A rating of #1 indicates brokers’ extreme bullishness on the stock.

Zacks Rank less than or equal to 2: Stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) generally perform better than their peers in all types of market environments.

VGM Score of A or B: Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best upside potential.

Let us discuss the abovementioned four stocks out of the 13 stocks that qualified the screening.

Nutex Health is a physician-led, technology-enabled healthcare services company. The stock currently sports a Zacks Rank of 1 and has a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Nutex Health’s 2026 earnings has been revised upward by 32.5% to $30.11 per share over the past 30 days. In the last reported quarter, NUTX surpassed the Zacks Consensus Estimate for earnings by 82.13%.

RCM Technologies is a national provider of business, technology and resource solutions in information technology and professional engineering to customers in corporate and government sectors. The stock currently sports a Zacks Rank of 1 and has a VGM Score of A.

The Zacks Consensus Estimate for RCM Technologies’ 2026 earnings has moved northward by 13.3% to $3.07 per share over the past 30 days. In the last reported quarter, RCMT beat the Zacks Consensus Estimate for earnings by 51.85%.

Remitly Global is a mobile-first provider of remittances and financial services for immigrants. The stock currently sports a Zacks Rank of 1 and has a VGM Score of B.

The Zacks Consensus Estimate for Remitly Global’s 2026 earnings has been revised upward by 13.8% to $1.57 per share over the past 30 days. In the last reported quarter, RELY outpaced the Zacks Consensus Estimate for earnings by 268.97%.

Belden is engaged in the design, manufacture and retail of cable, connectivity and networking products in markets, including industrial automation, enterprise, transportation, infrastructure and consumer electronics. The stock carries a Zacks Rank #2 and has a VGM Score of A.

The Zacks Consensus Estimate for Belden’s 2026 earnings has been raised by 5.7% to $8.69 per share over the past 30 days. In the last reported quarter, BDC topped the Zacks Consensus Estimate for earnings by 14.71%.

On August 21, 2026, Remitly Global Inc
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shares rose 8.0% to a current price of $26.67, reflecting strong price performance amidst a 52-week range of $12.08 to $27.15. The recent surge in stock price highlights growing interest from the market, although it is essential to evaluate the valuation metrics to gauge sustainability.

GF Value™ verdict: The current price is $26.67, which is 9.5% above the GF Value™ estimate of $24.35.GF Score™: RELY has a score of 74/100, indicating an above-average investment quality.Most notable signal: Insiders have sold $233.8M worth of shares over the past 12 months, with no buying activity observed.Is RELY Overvalued or Undervalued?According to GuruFocus, GF Value™ is a proprietary estimate of intrinsic value based on various factors including historical trading multiples, past business growth, and expected future performance. Currently, Remitly Global Inc
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is priced at $26.67, which is 9.5% above the GF Value™ of $24.35. This suggests that the stock is overvalued at its current price, indicating a potential risk for investors looking for a margin of safety.

The GF Valuation label categorizes RELY as fairly valued, yet the significant gap between the market price and the GF Value™ raises concerns regarding sustainability of the current price level. Investors should be cautious as being overvalued can lead to price corrections, especially in a volatile market environment.

How Does RELY's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)19.2x49.4x (5-Year Median)Forward P/E18.0xN/ACurrently, Remitly's P/E (TTM) of 19.2x is significantly lower than its 5-year median P/E of 49.4x, suggesting that the stock is trading at a much lower valuation compared to its historical levels. This P/E analysis aligns with the GF Value™ verdict indicating that while the stock is overvalued, it is trading at a lower valuation than in the past, which might attract some interest from value-focused investors.

What Does RELY's GF Score™ Tell Us?The GF Score™ is a comprehensive measure that evaluates a company's performance across various dimensions, including financial strength, profitability, growth, valuation, and momentum. Remitly Global Inc
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has a GF Score™ of 74/100, reflecting a solid investment profile, particularly in growth and valuation.

MetricRatingGF Score™74Financial Strength9/10Profitability4/10Growth10/10Valuation9/10Momentum1/10RELY's strongest sub-rank is its Growth score of 10/10, indicating exceptional potential for future expansion. Conversely, the Momentum rank of 1/10 suggests that the stock may not be currently experiencing favorable trends. Overall, the combination of a high GF Score™ and strong financial strength points to a robust underlying business, but profitability remains a concern that could impact long-term performance.

What Are Gurus and Insiders Doing with RELY?Currently, 7 gurus hold positions in Remitly Global Inc
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, with 3 adding to their stakes and 6 trimming their positions in recent quarters. This mixed activity among gurus suggests a cautious outlook on the stock from knowledgeable investors. The insider activity, with $233.8M sold and no buying activity over the past 12 months, further indicates a lack of confidence from those closest to the company.

The significant selling by insiders could be interpreted as a signal that they may have reservations about the company’s future performance or valuation. This trend should be monitored closely, as it can provide insights into the potential future trajectory of the stock.

What This Means for InvestorsBased on the analysis above, Remitly Global Inc
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is currently considered overvalued, trading at a price of $26.67 against a GF Value™ of $24.35. Investors should exercise caution given the stock's overvaluation and the recent insider selling activity, which may imply potential risks ahead. For further insights and detailed metrics, visit the Remitly Global Inc (RELY) stock page.

Frequently Asked QuestionsWhat is RELY's GF Score™?

RELY has a GF Score™ of 74/100, indicating an above-average quality of investment based on various performance metrics.

Is RELY overvalued or undervalued?

RELY is currently overvalued, with a market price of $26.67 compared to a GF Value™ of $24.35, suggesting a 9.5% overvaluation.

What is RELY's P/E ratio?

RELY's P/E (TTM) is 19.2x, which is significantly below its 5-year median P/E of 49.4x, indicating a lower valuation compared to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Remitly Global, Inc. (RELY - Free Report) closed the last trading session at $25.06, gaining 8.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $31.65 indicates a 26.3% upside potential.

The mean estimate comprises 10 short-term price targets with a standard deviation of $2.33. While the lowest estimate of $29.00 indicates a 15.7% increase from the current price level, the most optimistic analyst expects the stock to surge 43.7% to reach $36.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for RELY, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why RELY Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 37.1% over the past month, as one estimate has gone higher compared to no negative revision.

Moreover, RELY currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much RELY could gain, the direction of price movement it implies does appear to be a good guide.

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.

Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.

Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.

There are several stocks that passed through the screen and Remitly Global, Inc. (RELY - Free Report) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.

A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. RELY is quite a good fit in this regard, gaining 21.9% over this period.

However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 10.2% over the past four weeks ensures that the trend is still in place for the stock of this company.

Moreover, RELY is currently trading at 94.4% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.

Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.

So, the price trend in RELY may not reverse anytime soon.

In addition to RELY, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

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Remitly Global, Inc. (RELY - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.

Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for Remitly Global, Inc., as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe company is expected to earn $0.33 per share for the current quarter, which represents a year-over-year change of +725.0%.

The Zacks Consensus Estimate for Remitly Global has increased 50% over the last 30 days, as one estimate has gone higher compared to no negative revisions.

Current-Year Estimate RevisionsThe company is expected to earn $1.57 per share for the full year, which represents a change of +390.6% from the prior-year number.

The revisions trend for the current year also appears quite promising for Remitly Global, with one estimate moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 37.1%.

Favorable Zacks RankThanks to promising estimate revisions, Remitly Global currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineRemitly Global shares have added 9% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Takeda Pharmaceutical Co. (TAK - Free Report) : This research-based pharmaceutical company, which is engaged in manufacturing, marketing, and importing/exporting pharmaceutical drugs, has seen the Zacks Consensus Estimate for its current year earnings increasing 46.2% over the last 60 days.

Valero Energy (VLO - Free Report) : This company, which is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, has seen the Zacks Consensus Estimate for its current year earnings increasing 38.5% over the last 60 days.

PhenixFIN (PFX - Free Report) : This internally managed, closed-end, business development company, which is focused on current income generation coupled with capital appreciation with a focus on net asset value, has seen the Zacks Consensus Estimate for its current year earnings increasing 31.1% over the last 60 days.

Star Bulk Carriers (SBLK - Free Report) : This global shipping company, which provides worldwide seaborne transportation solutions in the dry bulk sector, has seen the Zacks Consensus Estimate for its current year earnings increasing 14.6% over the last 60 days.

Remitly Global (RELY - Free Report) : This company, which is a mobile-first provider of remittances and financial services for immigrants, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.8% over the last 60 day.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Phillip John Riese, a director at Remitly Global, Inc. (RELY +2.63%), sold 260,182 shares of common stock for about $6.4 million in transactions completed on August 11, according to a SEC Form 4 filing.

Transaction summaryMetricValueShares sold (directly held)260,182Transaction value$6.4 millionPost-transaction shares (directly held)261,094Post-transaction value$6.16 millionTransaction value based on SEC Form 4 weighted average sale price ($24.47); post-transaction value based on the August 11 market close ($23.61).

Key questionsWhat were the mechanics of this transaction?
Riese exercised stock options at a strike price of $0.64 and subsequently sold 260,182 shares at a weighted average price of $24.47. The options were fully vested and exercisable as of December 15, 2017.How does this sale impact the director's total equity position?
Following the transaction, Phillip John Riese directly holds 261,094 shares of common stock and maintains 69,818 options outstanding.What is the current market context for the company?
As of the August 10 market close, shares were priced at $23.14. The company, which maintains an insider ownership level of 0.12%, reported trailing twelve-month revenue of $1.8 billion and net income of $305.0 million.Company OverviewMetricValueShare Price (as of market close 2026-08-10)$23.14Market Capitalization$4.9 billionRevenue (TTM)$1.8 billionNet Income (TTM)$305.0 millionCompany SnapshotRemitly Global specializes in digital financial services for immigrants and their families, with a primary focus on international money transfers operating across over 170 countries.The company generates revenue through its digital remittance platform by charging fees on international money transfer transactions, serving as a fintech infrastructure provider for cross-border payments.Remitly's primary customers are immigrant workers and their families in developing markets who require reliable, cost-effective methods to send money internationally.Remitly Global operates as a leading digital remittance platform with a market capitalization of $4.9 billion and TTM revenue of $1.8 billion, demonstrating significant scale in the international money transfer market. The company's business model leverages technology infrastructure to reduce friction and costs associated with traditional remittance channels, positioning it as a competitive alternative to legacy money transfer services. With operations spanning over 170 countries and a focus on underserved immigrant populations, Remitly has established a defensible market position in the high-growth digital payments sector.

What this transaction means for investorsRiese is cashing in equity that predates Remitly's 2021 IPO, which is the kind of position worth converting to cash after the stock's big year rather than any comment on where it heads next. He kept 261,094 shares and more options, so his stake is roughly halved on paper but far from gone.

The timing sits against a standout quarter. Remitly grew second-quarter revenue 20% to $495 million, crossed 10 million active customers for the first time, and lifted adjusted EBITDA 79% to a record $115 million as AI-driven cost discipline widened margins. It raised full-year guidance too, and new CEO Sebastian Gunningham said the quarter was "a direct reflection of" the company's strategy and share gains.

The wrinkle worth knowing is that headline net income of $206 million leaned on a one-time $140.6 million tax benefit (the likes of which have been going around across public companies), so the profit looks larger than the underlying business earned, and management also flagged softness in high-value transfers tied to Indian rupee swings, a reminder that currency volatility still moves this business. Still, the quarter was strong, and the business is heading in the right direction.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Old Money, New Tech: Western Union's Crypto RebootRemitly Global NASDAQ: RELY executives said the company is focused on expanding market share in its core remittance business while building new revenue streams around higher-value transfers, small businesses, recipients and its global card offering.

Speaking during an investor discussion, Chief Executive Officer Sebastian Gunningham said the company’s core priorities remain consistent: competitive pricing, fast money movement across its network and customer service. He said Remitly is continuing to sharpen prices across roughly 5,000 corridors, add licenses, expand its network and use artificial intelligence to improve customer support and internal operations.

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3 Stocks Well Below 52-Week Highs With Strong Growth Projections“There will not be a customer in the next 100 years who wants to pay more money for transferring money across the world,” Gunningham said. “There will not be a customer who will tell you, ‘Please move my money slower.’”

Diversification Targets and Global Card Remitly’s primary business has centered on lower-value international transfers, generally in the $200 to $300 range. Gunningham said the company now serves about 10 million customers in that segment, but is pursuing additional customer categories using its existing infrastructure.

One opportunity is high-value senders, including people transferring money for personal investments or to themselves internationally. Chief Financial Officer Vikas Mehta said the company has enabled larger transactions through product and partner changes, including multiple transfers of $300,000 and one customer transaction exceeding $1 million during the most recent quarter.

Remitly is also targeting small businesses and freelancers that use its network to make cross-border payments. Gunningham said the initial focus is on the smaller end of the small- and medium-sized business market, including freelancers and companies paying workers abroad. The business product requires additional capabilities, such as business verification processes, the ability to pay multiple recipients and integrations with accounting and enterprise resource planning systems, he said.

A third growth area is recipients of remittances. Gunningham said that while 10 million senders move approximately $100 billion annually to an estimated 30 million to 40 million recipients, the company historically had not built products for those receivers. Remitly has launched an app in 170 countries and is generating early revenue from receiver-focused offerings, he said.

The company has also consolidated several initiatives, including its Remitly Flex send-now, pay-later product, under the Remitly Global Card. Gunningham said the card is intended for customers who live, travel or maintain family relationships across borders. Features include card-to-card transfers, short-term liquidity, loyalty benefits, no foreign transaction fees and the ability to deposit salary.

Mehta said Remitly expects its newer growth initiatives to represent approximately 5% of revenue this year and more than 10% of revenue by 2028. These products could also diversify the company’s income sources through membership revenue, interchange and float-related interest income, he said.

AI, Organization Changes and Investment Gunningham said AI is affecting Remitly in three areas: costs, customer experience and revenue growth from faster product development. He cited the rollout of the Remitly Global Card in roughly 60 days with a small team as an example of how AI-supported development can accelerate launches.

He also said the company has flattened its organizational structure and is pushing teams to become smaller and faster-moving. Gunningham expects AI to contribute to smaller teams and a convergence of traditional roles such as product management, design and software engineering.

Mehta said the company had a strong first half of 2026 and is preparing to increase investment during the second half, including marketing spending. He said Remitly plans to continue its “Skip the Line” campaign, which management said was successful in the first half.

On transaction losses, Mehta said the company expects the next two quarters to run at around 11 basis points, within its previously stated average range of 9 to 13 basis points. He said Remitly remains cautious because entering new geographies and payment types can create new fraud risks.

Core Remittance Market and Regional Trends Gunningham said Remitly’s 5,000-corridor network represents about half of the potential global coverage opportunity. He identified network expansion, customer acquisition, repeat use and price competitiveness as the main growth levers in the core business.

Management said Remitly holds roughly 10% to 15% share in certain established markets, including major corridors such as the U.S. to Mexico, U.S. to the Philippines, U.S. to India and the U.K. to India. Gunningham said that share demonstrates the company’s position but also leaves substantial room for expansion.

Mehta said Canada experienced macroeconomic headwinds and more constrained immigration policies, though Remitly continues to pursue share gains in that market. He said slower growth in the company’s “rest of world” category was tied to more difficult year-over-year comparisons in African corridors.

Gunningham highlighted the United Arab Emirates as a significant market, citing approximately $50 billion in annual remittances, a population that is 90% migrant and a digital share of outbound transfers of about 50%. A new license in the UAE will enable additional products, including the Remitly Global Card, he said.

Stablecoins and Capital Allocation Management said Remitly is evaluating stablecoins for treasury settlements, faster movement of funds in certain corridors and consumer products in markets where customers seek to hold U.S. dollar-denominated value. Gunningham said the company has introduced card-related stablecoin offerings in Argentina and Pakistan, though consumer adoption remains small.

He said Remitly joined the OpenUSD initiative because it could support trust, adoption and shared economics among payment companies. The company has not yet launched a specific OpenUSD product.

On capital allocation, Gunningham said Remitly intends to continue balancing share repurchases with internal investment. He said the company has no current plans for mergers and acquisitions, adding that its organic product roadmap remains extensive.

About Remitly Global (NASDAQ:RELY)Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Posted by Defense World Staff on Aug 10th, 2026

California State Teachers Retirement System increased its position in Remitly Global, Inc. (NASDAQ:RELY – Free Report) by 24.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 208,409 shares of the financial services provider’s stock after purchasing an additional 41,221 shares during the period. California State Teachers Retirement System owned 0.10% of Remitly Global worth $3,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Remitly Global during the first quarter valued at approximately $26,000. Torren Management LLC bought a new stake in shares of Remitly Global in the 4th quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Remitly Global during the 4th quarter valued at approximately $28,000. HighMark Wealth Management LLC bought a new position in Remitly Global during the fourth quarter worth $35,000. Finally, Quarry LP acquired a new position in Remitly Global in the third quarter worth $42,000. 74.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In RELY has been the topic of a number of research reports. KeyCorp increased their target price on shares of Remitly Global from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Citigroup reissued an “outperform” rating on shares of Remitly Global in a report on Thursday. Weiss Ratings raised Remitly Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Finally, Wolfe Research reiterated an “outperform” rating and set a $31.00 price target on shares of Remitly Global in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Remitly Global currently has an average rating of “Moderate Buy” and a consensus target price of $27.44.

Get Our Latest Research Report on Remitly Global

Remitly Global Price Performance Remitly Global stock opened at $24.42 on Monday. The firm has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $19.12. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 17.57 and a beta of 0.34. Remitly Global, Inc. has a 52-week low of $12.08 and a 52-week high of $27.15.

Remitly Global (NASDAQ:RELY – Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.12 by $0.81. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The firm had revenue of $495.16 million during the quarter, compared to analysts’ expectations of $486.25 million. During the same quarter in the prior year, the firm earned $0.03 EPS. Remitly Global’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts expect that Remitly Global, Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Remitly Global In other Remitly Global news, insider Pankaj Sharma sold 16,000 shares of Remitly Global stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $20.01, for a total transaction of $320,160.00. Following the sale, the insider owned 767,810 shares of the company’s stock, valued at $15,363,878.10. The trade was a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikas D. Mehta sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.07, for a total value of $526,750.00. Following the transaction, the chief financial officer owned 988,004 shares of the company’s stock, valued at $20,817,244.28. This trade represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 136,005 shares of company stock valued at $2,869,717. 6.53% of the stock is currently owned by insiders.

About Remitly Global (Free Report)

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.

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Shares of Remitly Global (RELY +7.73%) were moving higher on Thursday after the remittance specialist posted better-than-expected results in its second-quarter earnings report.

The stock closed up 7.7% on the news.

Image source: Getty Images.

Remitly shines Remitly said that send volume, or the amount of money remitted, rose 27% in the quarter to $23.5 billion, driving revenue up 20% to $495.2 million, which was ahead of the consensus at $486 million.

Active customers jumped 20% to 10.2 million, showing the company still has a lot of runway in customer growth.

Even more impressive was its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rising 79% to $114.7 million, showing the business is scaling and it's benefiting from network effects.

On the bottom line, earnings per share after adjusting for a one-time tax benefit jumped form $0.03 to $0.30, which was just below the consensus at $0.31.

CEO Sebastian Gunningham said, "Our results reflect the compounding advantages of a trusted global network, a strategy that resonates with customers, and rigorous cost discipline."

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What's next for Remitly For the full year, the company raised its guidance from $1.96 billion-$1.98 billion to $1.98 billion-$1.99 billion, or 21% growth at the midpoint.

On the bottom line, it called for year-over-year growth in net income and adjusted EBITDA of $410 million-$415 million.

Remitly still has a large addressable market to penetrate, especially with its new Remitly Business B2B platform for cross-border payments, and a premium subscription product, Remitly One.

The latest report shows the company establishing itself as the premier remittance specialist in the digital era. It's not surprising to see the stock moving higher on the news.

Old Money, New Tech: Western Union's Crypto RebootRemitly Global NASDAQ: RELY reported second-quarter results above its guidance range, with revenue rising 20% year over year to $495 million and adjusted EBITDA reaching a record $115 million, or a 23% margin.

Chief Executive Officer Sebastian Gunningham said the company also surpassed 10 million quarterly active users for the first time, supported by record new-customer additions. Quarterly active customers increased 20% from a year earlier to 10.2 million, while send volume rose 27% to $23.5 billion. Send volume per active customer reached a record $2,300, up 6% year over year.

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3 Stocks Well Below 52-Week Highs With Strong Growth Projections“Record revenue, record adjusted EBITDA, both above the high end of guidance again,” Gunningham said. He attributed the results to the company’s remittance strategy, network scale and what he described as structural cost discipline.

Network expansion and core remittance performance Remitly added five receive countries during the quarter—New Zealand, Niger, Mali, Angola and Botswana—bringing its network to 179 receive geographies. Thirty-two countries are now enabled for both sending and receiving, according to the company.

The company said new real-time pay-in rails, including FedNow and real-time payments in the U.S., helped improve funding speeds. Nearly 70% of globally funded transfers were delivered in less than 20 seconds during the quarter, an all-time high, Gunningham said. The company also cited record pay-in acceptance rates and record-low defect rates.

In the U.S., revenue grew 24% year over year, while revenue from the rest of the world rose 18%, Chief Financial Officer Vikas Mehta said. Revenue from receive regions outside India, the Philippines and Mexico grew faster than overall company revenue and accounted for more than half of the revenue mix.

Mehta said regulatory changes in the U.S. continued to support a shift toward digital remittances, contributing to record customer acquisition. He also said volume over Mother’s Day weekend exceeded the company’s expectations.

Growth products gain traction Remitly continued expanding products beyond its core consumer remittance service, which it calls “growth accelerators.” These include high-value senders, Remitly Business, receiver products, and offerings to spend, save and borrow. The company expects these categories to represent about 5% of total revenue in 2026 and more than 10% by 2028.

High-value sender volume, defined as transfers of $5,000 or more, increased 37% year over year and gained 70 basis points of mix. The company completed its first $300,000 transfer and had a customer send more than $1 million in a single quarter. Remitly added bank wires as a funding method, with customers using wires sending nearly three times more per transaction, Mehta said.

Gunningham said high-value send volume more than doubled in the U.S.-Mexico corridor after the company reduced customer friction, raised send limits and added Wise as a funding option. Mehta noted, however, that high-value volume growth softened in June because of Indian rupee fluctuations and foreign-currency mobilization measures announced by the Reserve Bank of India. He said the company expects those trends affecting Indian corridors to normalize during the year.

Remitly Business ended the quarter with more than 25,000 users, with sequential growth in both revenue and volume accelerating from the prior quarter. More than 80% of customers added to the business platform were new to Remitly, and the average business customer sent money 10 times per quarter, Gunningham said.

The company expanded its receiver product from six countries to 130 countries. The offering generated revenue for the first time in the second quarter. Management said the product could provide direct access to more than 30 million receivers on its platform, although Gunningham said monetization remains in its early stages.

Global Card, stablecoins and AI initiatives Remitly launched the Remitly Global Card last week, offering customers a single account for sending, spending, saving and receiving money. The product includes no-fee everyday spending, direct deposit, global ATM access, multicurrency and USDC capabilities, instant transfers between cardholders, and no foreign transaction fees, according to Gunningham.

The company also offers a $9.99 monthly membership plan that includes an open-end line of credit, which customers can use to remit money before payday and repay over time. Mehta said the associated lines of credit are funded by a third-party bank partner and that the newer card plan format has shown response and conversion rates above prior benchmarks.

Separately, Remitly launched a global stablecoin wallet with a debit card in Latin America, allowing receivers to receive, hold and spend USDC. The company also joined the OpenUSD stablecoin consortium as a founding member. Gunningham said the stablecoin could potentially reduce pay and settlement times by up to one day. Mehta said stablecoins are already producing early treasury-settlement benefits, though the absolute impact remains modest.

Management emphasized artificial intelligence as a contributor to productivity and operating leverage. Technology and development expense increased in the mid-single digits, while declining 175 basis points as a percentage of revenue to 11.2%. General and administrative expense fell 11% year over year to $41 million, its first annual decline as a public company, Mehta said.

The company said AI-driven fraud prevention and detection helped keep provisions for transaction losses below expectations. Transaction margin, formerly called revenue less transaction expense, increased 25% to $334 million, with margin improving 235 basis points to 67%.

Cash flow, repurchases and outlook Net income was $206 million, including a $140.6 million release of a tax valuation allowance. Free cash flow nearly tripled from a year earlier to more than $130 million, aided by operating leverage, favorable working capital and lower property and equipment spending.

Remitly repurchased $21 million of stock, or more than 1.1 million shares, during the quarter. Year to date, it has repurchased nearly 4 million shares.

For the third quarter, the company forecast revenue of $505 million to $507 million, representing 20% to 21% growth, and adjusted EBITDA of $92 million to $94 million, implying an 18% to 19% margin. For the full year, Remitly raised its revenue outlook to $1.978 billion to $1.988 billion, or 21% to 22% growth, and projected adjusted EBITDA of $410 million to $415 million, for an approximately 21% margin.

Gunningham said the company intends to pursue market-share gains aggressively through sharper pricing, faster money movement and improved service, while continuing to invest selectively in its newer products.

About Remitly Global (NASDAQ:RELY)Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Quarterly Active Customers surpass 10 million 
Second quarter send volume up 27% and revenue up 20% year over year
Second quarter net income of $205.9 million, inclusive of a $140.6 million discrete tax benefit
Adjusted EBITDA of $114.7 million up 79% year over year

SEATTLE, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of financial services that transcend borders, reported results for the second quarter ended June 30, 2026.

“We delivered another excellent quarter, achieving record revenue, Adjusted EBITDA, and net income, while surpassing 10 million quarterly active customers for the first time in our company's history, a direct reflection of the trust and confidence customers place in Remitly,” said Sebastian Gunningham, Chief Executive Officer. “Our results reflect the compounding advantages of a trusted global network, a strategy that resonates with customers, and rigorous cost discipline. AI-driven operating efficiencies are creating additional capacity to invest in growth while improving margins, giving us more confidence in the opportunities ahead.”

Second Quarter 2026 Highlights and Key Operating Data
(All comparisons relative to the second quarter of 2025)

Active customers increased to 10.2 million, compared to 8.5 million, up 20%.Send volume increased to $23.5 billion, compared to $18.5 billion, up 27%.Revenue totaled $495.2 million, compared to $411.9 million, up 20%.Net income was $205.9 million, inclusive of a $140.6 million discrete tax benefit from the U.S. valuation allowance release.Adjusted EBITDA was $114.7 million, compared to $64.0 million, up 79%. 2026 Financial Outlook
For fiscal year 2026, Remitly currently expects:

Total revenue in the range of $1.978 billion to $1.988 billion, representing a growth rate of 21% to 22% year over year.Year over year growth in net income, and Adjusted EBITDA in the range of $410 million to $415 million. For the third quarter of 2026, Remitly currently expects:

Total revenue in the range of $505 million to $507 million, representing a growth rate of 20% to 21% year over year.Year over year growth in net income, and Adjusted EBITDA in the range of $92 million to $94 million. Reconciliation of GAAP to Non-GAAP Financial Measures
A reconciliation of accounting principles generally accepted in the United States of America (“GAAP”) to non-GAAP financial measures has been provided in the financial statement tables included in this earnings release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.” We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this earnings release because we cannot, without unreasonable effort, calculate certain reconciling items with confidence due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. These items include, but are not limited to, income taxes, stock-based compensation expense, and payroll taxes related to stock-based compensation expense, which are directly impacted by unpredictable fluctuations in the market price of our common stock. The variability of these items could have a significant impact on our future GAAP financial results.

Note: All percentage changes described within this press release are calculated using amounts in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), for which revenue and active customers are presented in thousands and send volume is presented in millions. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body as compared to the amounts included within the Company’s SEC filings.

Webcast Information
Remitly will host a webcast at 5:00 p.m. Eastern Time on Wednesday, August 5, 2026, to discuss its second quarter 2026 financial results. The live webcast and investor presentation will be accessible on Remitly’s website at https://ir.remitly.com. A webcast replay will be available on our website at https://ir.remitly.com following the live event.

We have used, and intend to continue to use, the Investor Relations section of our website at https://ir.remitly.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD (Fair Disclosure).

Non-GAAP Financial Measures
Some of the financial information and data contained in this earnings release, such as Adjusted EBITDA, non-GAAP operating expenses, transaction margin dollars, transaction margin, and free cash flow, have not been prepared in accordance with GAAP.

We regularly review our key business metrics and non-GAAP financial measures to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key business metrics and non-GAAP financial measures provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain items that may not be indicative of its recurring core operating results and business outlook.

Our non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with our financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this press release for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.

We calculate Adjusted EBITDA as net income (loss) adjusted by (i) interest (income) expense, net; (ii) (benefit from) provision for income taxes; (iii) noncash charges of depreciation and amortization; (iv) other (income) expense, net; (v) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment; (vi) noncash stock-based compensation expense, net; (vii) payroll taxes related to stock-based compensation expense, net; and (viii) certain restructuring and other costs. We calculate non-GAAP operating expenses as our GAAP operating expenses adjusted by (i) noncash stock-based compensation expense, net; (ii) payroll taxes related to stock-based compensation expense, net; (iii) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment; as well as (iv) certain restructuring and other costs. Adjusted EBITDA and non-GAAP operating expenses are key output measures used by our management to evaluate our operating performance, inform future operating plans, and make strategic long-term decisions, including those relating to operating expenses and the allocation of internal resources. We believe that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors.

We calculate transaction margin dollars as income from operations, excluding expenses related to (i) customer support and operations; (ii) marketing; (iii) technology and development; (iv) general and administrative; and (v) depreciation and amortization. Transaction margin dollars can also be calculated as revenue less transaction expenses. We calculate transaction margin as transaction margin dollars divided by revenue. Transaction margin dollars and transaction margin are non-GAAP financial measures that management uses to evaluate the economic returns generated by the company's platform. We believe that transaction margin dollars provides useful information in understanding and evaluating our financial results.

We calculate free cash flow as net cash provided by operating activities, adjusted for capitalized expenditures that include purchases of property and equipment and capitalized internal-use software. Free cash flow is a key measure used by our management to understand the strength of our liquidity and available cash, and we believe that the presentation of this measure is useful because we are focused on growing our free cash flow generation over time. Free cash flow is not intended to represent the total increase or decrease in our cash balance for the period.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding future events or our future results of operations and financial position, including our fiscal year and third quarter 2026 financial outlook, including forecasted fiscal year and third quarter 2026 revenue, net income (loss), and Adjusted EBITDA, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, our growth, our position and potential opportunities, and our objectives for future operations. The words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Forward-looking statements are based on management’s expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to continue to develop new products and services in a timely manner; our ability to sustain our profitability; our ability to maintain and expand our strategic relationships with third parties; our business plan and our ability to effectively manage our growth; anticipated trends, growth rates, and challenges in our business and in the market segments in which we operate; our ability to effectively integrate and leverage artificial intelligence and machine learning technologies; our ability to attract, integrate, and retain qualified employees, including key members of our management team; uncertainties regarding the impact of geopolitical and macroeconomic conditions, including currency fluctuations, inflation, regulatory changes (including as may be related to immigration, fiscal and tax policy, foreign trade, or foreign investment), regional and global conflicts or related government sanctions, or legislative or regulatory developments; our ability to maintain the security and availability of our solutions; our ability to maintain our money transmission licenses and other regulatory clearances or obtain new licenses and regulatory clearances; our ability to maintain and expand international operations; our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions; and our stock repurchase program, the timing and number of shares of our common stock to be repurchased, and the potential benefits thereof. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, our actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results is included in our quarterly report on Form 10-Q for the quarter ended June 30, 2026, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC, which are or will be available on our website at https://ir.remitly.com and on the SEC’s website at www.sec.gov. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

About Remitly
Remitly is a trusted provider of financial services that transcend borders. With a footprint spanning more than 175 countries, Remitly has built one of the world’s leading global money movement platforms, trusted by millions of customers. Remitly continues to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases.

Contacts

Media Inquiries:
[email protected]

Investor Relations:
[email protected]

 REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Operations
(unaudited)
     Three Months Ended June 30, Six Months Ended June 30,(in thousands, except per share data)2026
 2025
 2026
 2025
Revenue$495,156  $411,852  $947,958  $773,476 Costs and expenses       Transaction expenses(1) 161,174   143,756   306,114   265,149 Customer support and operations(1) 26,639   25,074   53,450   47,647 Marketing(1) 104,388   84,976   190,750   158,325 Technology and development(1) 74,049   77,496   153,652   151,347 General and administrative(1) 55,918   59,581   111,065   112,410 Depreciation and amortization 6,307   6,326   12,506   11,722 Total costs and expenses 428,475   397,209   827,537   746,600 Income from operations 66,681   14,643   120,421   26,876 Interest income 1,485   2,061   3,138   3,848 Interest expense (3,152)  (1,650)  (5,589)  (2,949)Other expense, net (370)  (6,940)  (1,251)  (4,719)Income before (benefit from) provision for income taxes 64,644   8,114   116,719   23,056 (Benefit from) provision for income taxes (141,264)  1,578   (138,242)  5,168 Net income$205,908  $6,536  $254,961  $17,888 Net income per share attributable to common stockholders:       Basic$0.98  $0.03  $1.21  $0.09 Diluted$0.93  $0.03  $1.16  $0.08 Weighted-average shares used in computing net income per share attributable to common stockholders:       Basic 210,839   204,693   210,936   203,227 Diluted 221,049   218,978   219,023   218,704  __________
(1) Exclusive of depreciation and amortization, shown separately.

 REMITLY GLOBAL, INC.
Condensed Consolidated Balance Sheets
(unaudited)
     June 30, December 31,(in thousands)2026
 2025
Assets   Current assets   Cash and cash equivalents$676,394  $542,426 Disbursement prefunding 234,640   441,335 Customer funds receivable, net 322,019   286,455 Prepaid expenses and other current assets 52,894   45,735 Total current assets 1,285,947   1,315,951 Property and equipment, net 60,097   61,521 Operating lease right-of-use assets 9,898   12,452 Goodwill 54,940   54,940 Intangible assets, net 1,063   2,125 Other noncurrent assets, net 155,510   11,724 Total assets$1,567,455  $1,458,713 Liabilities and stockholders’ equity   Current liabilities   Accounts payable$39,893  $28,450 Customer liabilities 195,521   219,667 Short-term debt 3,022   2,821 Accrued expenses and other current liabilities 158,072   141,948 Operating lease liabilities 7,806   6,166 Total current liabilities 404,314   399,052 Operating lease liabilities, noncurrent 27,436   28,135 Long-term debt —   155,000 Other noncurrent liabilities 8,857   7,737 Total liabilities 440,607   589,924 Commitments and contingencies   Stockholders’ equity   Common stock 21   21 Additional paid-in capital 1,329,975   1,325,520 Accumulated other comprehensive income 2,239   3,596 Accumulated deficit (205,387)  (460,348)Total stockholders’ equity 1,126,848   868,789 Total liabilities and stockholders’ equity$1,567,455  $1,458,713           REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Cash Flows
(unaudited)
   Six Months Ended June 30,(in thousands)2026
 2025(1)Cash flows from operating activities   Net income$254,961  $17,888 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation, amortization, and other 25,928   27,641 Deferred income taxes (143,856)  — Stock-based compensation expense, net 62,027   73,858 Donation of common stock 1,722   1,866 Changes in operating assets and liabilities:   Prepaid expenses and other assets (7,277)  (19,614)Operating lease right-of-use assets 1,700   3,700 Accounts payable 15,965   4,443 Accrued expenses and other liabilities 4,930   13,397 Operating lease liabilities 412   12,293 Net cash provided by operating activities 216,512   135,472 Cash flows from investing activities   Purchases of property and equipment (7,171)  (18,484)Capitalized internal-use software costs (6,531)  (6,012)Net (originations) collections from consumer receivables (6,613)  (8,069)Net cash used in investing activities (20,315)  (32,565)Cash flows from financing activities   Proceeds from exercise of stock options 1,451   4,578 Proceeds from issuance of common stock in connection with ESPP 6,340   5,768 Cash paid for repurchase of common stock (65,164)  — Proceeds from revolving credit facility borrowings 5,817,000   2,493,000 Repayments of revolving credit facility borrowings (5,972,000)  (2,493,000)Net change in customer funds assets and liabilities 155,461   38,622 Taxes paid related to net share settlement of equity awards (3,727)  (11,617)Payment of debt issuance costs —   (2,628)Net cash (used in) provided by financing activities (60,639)  34,723 Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (1,723)  10,182 Net increase in cash, cash equivalents, and restricted cash 133,835   147,812 Cash, cash equivalents, and restricted cash at beginning of period 544,299   369,817 Cash, cash equivalents, and restricted cash at end of period$678,134  $517,629 Reconciliation of cash, cash equivalents, and restricted cash   Cash and cash equivalents$676,394  $515,896 Restricted cash included in prepaid expenses and other current assets 485   664 Restricted cash included in other noncurrent assets, net 1,255   1,069 Total cash, cash equivalents, and restricted cash$678,134  $517,629  __________
(1) Beginning in the fourth quarter of 2025, the Company changed the presentation of certain cash activity related to customer funds assets and liabilities, which is comprised of disbursement prefunding, customer funds receivable, customer liabilities, and trade settlement liability included within the line item ‘Accrued expenses and other current liabilities’ on the Consolidated Balance Sheets. Certain components of this activity were reclassified from cash flows from operating activities to cash flows from financing activities, reflected within the line item ‘Net change in customer funds assets and liabilities.’

 REMITLY GLOBAL, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
 Reconciliation of net income to Adjusted EBITDA:         Three Months Ended June 30, Six Months Ended June 30,(in thousands)2026
 2025
 2026
 2025
Net income$205,908  $6,536  $254,961  $17,888 Add:       Interest (income) expense, net 1,667   (411)  2,451   (899)(Benefit from) provision for income taxes (141,264)  1,578   (138,242)  5,168 Depreciation and amortization 6,307   6,326   12,506   11,722 Other expense, net 370   6,940   1,251   4,719 Donation of common stock 957   907   1,722   1,866 Stock-based compensation expense, net 34,491   38,066   62,027   73,858 Payroll taxes related to stock-based compensation expense, net 2,061   1,519   3,833   4,659 Restructuring and other costs(1) 4,245   2,536   15,783   3,444 Adjusted EBITDA$114,742  $63,997  $216,292  $122,425  __________
(1) Restructuring and other costs for the three and six months ended June 30, 2026 and June 30, 2025 consisted primarily of termination benefits. These costs are not indicative of ongoing operating performance.

 Reconciliation of income from operations to transaction margin dollars and transaction margin:
             Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)2026
 2025
 2026
 2025
Income from operations$66,681  $14,643  $120,421  $26,876 Add:           Customer support and operations 26,639   25,074   53,450   47,647 Marketing 104,388   84,976   190,750   158,325 Technology and development 74,049   77,496   153,652   151,347 General and administrative 55,918   59,581   111,065   112,410 Depreciation and amortization 6,307   6,326   12,506   11,722 Transaction margin dollars$333,982  $268,096  $641,844  $508,327             Revenue$495,156  $411,852  $947,958  $773,476  Transaction margin67% 65% 68% 66%              Reconciliation of cash flow from operations to free cash flow:         Three Months Ended June 30, Six Months Ended June 30,(in thousands)2026
 2025
 2026
 2025
Net cash provided by operating activities$134,620  $54,689  $216,512  $135,472 Less:       Purchases of property and equipment (1,184)  (7,869)  (7,171)  (18,484)Capitalized internal-use software costs (3,332)  (3,063)  (6,531)  (6,012)Free cash flow$130,104  $43,757  $202,810  $110,976                   Reconciliation of operating expenses to non-GAAP operating expenses:
             Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)2026
 2025
 2026
 2025
Customer support and operations$26,639  $25,074  $53,450  $47,647 Excluding: Stock-based compensation expense, net 417   453   726   709 Excluding: Payroll taxes related to stock-based compensation expense, net 7   8   12   16 Excluding: Restructuring and other costs —   —   1,644   — Non-GAAP customer support and operations$26,215  $24,613  $51,068  $46,922              Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)2026
 2025
 2026
 2025
Marketing$104,388  $84,976  $190,750  $158,325 Excluding: Stock-based compensation expense, net 5,530   4,747   7,703   8,874 Excluding: Payroll taxes related to stock-based compensation expense, net 409   258   450   714 Excluding: Restructuring and other costs 1,979   175   3,688   665 Non-GAAP marketing$96,470  $79,796  $178,909  $148,072              Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)2026
 2025
 2026
 2025
Technology and development$74,049  $77,496  $153,652  $151,347 Excluding: Stock-based compensation expense, net 15,939   21,873   33,097   43,110 Excluding: Payroll taxes related to stock-based compensation expense, net 1,127   885   2,395   2,866 Excluding: Restructuring and other costs 1,475   1,382   4,938   1,382 Non-GAAP technology and development$55,508  $53,356  $113,222  $103,989              Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)2026
 2025
 2026
 2025
General and administrative$55,918  $59,581  $111,065  $112,410 Excluding: Stock-based compensation expense, net 12,605   10,993   20,501   21,165 Excluding: Payroll taxes related to stock-based compensation expense, net 518   368   976   1,063 Excluding: Donation of common stock 957   907   1,722   1,866 Excluding: Restructuring and other costs 791   979   5,513   1,397 Non-GAAP general and administrative$41,047  $46,334  $82,353  $86,919                 

by Kurt Schlosser on Jul 30, 2026 at 6:00 amJuly 30, 2026 at 6:47 am

The Remitly Global Card. (Remitly Image) Remitly, the Seattle digital remittance startup built on sending money across borders, is now offering a debit card and account meant to hold that money, too.

The company on Thursday launched the Remitly Global Card, a Visa debit card and linked account aimed at customers whose lives span multiple countries — letting them get paid, spend, save, and send money home without switching between apps or accounts.

The launch aligns with Remitly’s broader strategy to expand beyond cross-border transfers into everyday financial services. By offering direct deposits, fee-free local spending, and global ATM access, the company is aiming to deepen customer loyalty and eliminate the banking friction faced by many underbanked or immigrant workers when trying to open traditional accounts.

“Our top goal for the Remitly Global Card was for it to disappear into people’s everyday lives, so sending money home feels as simple as buying a coffee,” CEO Sebastian Gunningham said in a news release, pointing to a unified balance that works across different currencies without requiring separate accounts or spending apps.

The Visa debit card is issued through Lead Bank, with the account wallet powered by Stripe and funds held at Fifth Third Bank, giving eligible customers pass-through FDIC insurance.

The card plan includes several targeted features for cross-border users:

Automatic rate perks: Cardholders receive Remitly’s preferred foreign exchange rates and default access to its fastest transfer options.

Flexible balances: Eligible customers can hold funds in U.S. dollars or USDC, a dollar-backed digital stablecoin, converting to local currencies as needed.

Peer-to-peer transfers: Cardholders can send money instantly to other Remitly cardholders globally.

Liquidity access: U.S. cardholders can access a 0% APR open-end line of credit with no credit history required to help bridge gaps before payday.

Founded in 2011 out of the Techstars Seattle accelerator (originally as Beamit Mobile), Remitly has grown into one of the region’s largest public fintech successes. The company now employs more than 2,800 people globally and reported $452.8 million in revenue for the first quarter of 2026, serving roughly 9.6 million quarterly active customers.

The product rollout comes just months after a major leadership transition for the company. Co-founder Matt Oppenheimer stepped into the board chairman role earlier this year after leading Remitly for nearly 15 years, handing the chief executive reins to Gunningham, a former Amazon executive who previously headed the tech giant’s marketplace and payments teams.

The Remitly Global Card begins a phased rollout to eligible, invited customers on Thursday. Initial international focus targets select markets across Latin America and Asia-Pacific, with plans to expand regional access over the coming quarters to the UK, Europe, Australia, Canada, and the UAE.

Over time, Remitly plans to broaden card access to more existing users and eventually prospective customers, positioning the tool as its primary engine for driving deeper customer loyalty across global borders.

Even though the market is soaring, you can still find many stocks trading at huge discounts to previous highs. This is where the buying opportunities are right now, not among the artificial intelligence (AI) winners that went up 500% over the last year.

Take Remitly Global (RELY -3.02%) and Adyen (ADYEY +0.21%). The two financial technology (fintech) stocks are down over 50% from the highs they set close to five years ago -- a tremendously painful journey for any shareholder. And yet, they just might be among the best opportunities for growth investors on the stock market today.

Here's why patient investors will do well buying both Remitly and Adyen as long-term fintech growth stocks.

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Remitly's growth story Remitly Global operates a digital remittance platform that allows individuals and small businesses to easily send money across borders. It's mainly used as a replacement for legacy money transfer services (like Western Union) by people sending funds from the United States abroad.

The application has gained significant market share since Remitly's initial public offering (IPO) in 2021, driven by its lower fees, easy-to-use mobile app, and a wide range of pickup options for receivers. Last quarter, total send volume grew 37% year over year to $16.2 billion, while total revenue had increased 572% since the IPO. Remitly is now highly profitable, generating net income of $49.1 million last quarter, for a net income margin of 11%.

Despite this growth and profit inflection, Remitly remains down 50% from its all-time highs set around the time of its IPO.

Image source: Getty Images.

Growth from a superior payments infrastructure Another market-share gainer in a different corner of the payments market is Adyen. The company has built a global payments infrastructure that allows merchants and digital platforms to process payments seamlessly, both online and offline. You may never have heard of the brand, but it processes payments for hundreds of enterprises worldwide, including long-term partners Uber Technologies and Spotify Technology.

Regardless of the payment method a customer uses, Adyen takes a small cut of every transaction. Over the last 12 months, Adyen has processed $1.69 trillion in payment volume worldwide, up from $35 billion in 2015. The company is gaining market share because of its superior technology, which benefits the growing number of merchants that need a globalized payments infrastructure.

Revenue has grown at a 38% compound annual rate in U.S. dollars since 2015, with net revenue up 20% year over year in constant currency last quarter. At the same time, Adyen stock is down 72% from its 2021 highs.

The best part about Adyen is its cost discipline, which drives strong unit economics and shows up in its various margin figures. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin is expected to return to 55% by 2028, accompanied by strong revenue growth.

RELY PE Ratio data by YCharts.

Why Remitly and Adyen are great buys What makes these two fintech growth darlings most attractive is their low valuations. This is what happens when you combine durable revenue growth and falling share prices.

Right now, Remitly Global trades at a price-to-earnings (P/E) ratio of 49. This may not seem cheap at first glance, but remember that the company is just seeing a profit-margin inflection at a greater scale. Full-year revenue in 2026 is expected to be just under $2 billion. An 11% profit margin on that figure is $220 million in net income, for a forward P/E of 23 based on the current market cap of $5 billion. There's also plenty of room for revenue to keep growing and margins to keep expanding in the years ahead.

Adyen's valuation is simpler. It trades at a current P/E ratio of 25 with a conservative balance sheet, healthy growth prospects, and expanding profit margins.

Taken together, these fallen angels look like great buys today for investors who plan to hold for the next five to 10 years.

Shares of Remitly Global (RELY +0.89%) were soaring 62.4% in the first half of 2026, according to data from S&P Global Market Intelligence. The remittance disruptor is taking market share and finally showing some profitability, which is getting investors bullish on the stock.

After years of worries about disruption from novel technologies like stablecoins, Remitly is finally showing its might to investors. Here's why the stock was soaring in 2026, and whether it is still a buy for your portfolio today.

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Fast growth and hints of profitability Remitly has delivered consistent gains for investors in 2026 due to its market share gains in remittances, or international money transfers. In the first quarter, send volume was up 37% to $22.1 billion, revenue was up 25% to $453 million, and, importantly, net income was a positive $49.1 million, up 332% year-over-year.

There is a massive opportunity for Remitly to deliver an easy-to-use money transfer service to tens of millions of customers around the globe, which is allowing it to steal share from existing players while also expanding the total addressable market. Management is now expanding into new sectors, including card spending, mobile wallets, and business transfers.

At the same time, it is expanding profit margins. These dual engines of growth and profitability are why investors are now more bullish on Remitly than they've been in a long while.

Image source: Getty Images.

Should you buy Remitly stock? Even after this jump, Remitly's stock is still down 51% from its highs set at the time of its 2021 IPO. With monster revenue growth over the past few years, its price-to-sales ratio (P/S) is still below 3. With strong profit margins and further room to grow, this P/S ratio still feels cheap for anyone looking to add to their Remitly position today.

For example, in 2026, Remitly expects revenue to grow by 20% to just under $2 billion. If double-digit growth continues, it will soon reach $3 billion. With EBIT (earnings before interest and taxes) margin climbing, we could see a 20% bottom-line profit margin a few years down the line, especially once Remitly stops its large marketing investments.

A 20% profit margin on $3 billion in revenue is $600 million in earnings, which is still a cheap earnings multiple compared to Remitly's market cap of $5 billion. It is not as cheap as it was at the beginning of this year, but Remitly Global still looks like a solid buy for investors today.

Key Takeaways Visa, Paymentus, Corpay, Sezzle and Remitly are highlighted as mobile payments stocks to buy and hold. Visa is expanding AI, stablecoin and commerce capabilities as digital payment adoption continues to grow.Paymentus, Corpay, Sezzle and Remitly are cited for growth strategies and improving earnings estimates. The rapid shift from cash to digital transactions, driven by a push toward convenience and security, has led to meteoric growth in mobile payments. The space encompasses a broad spectrum of innovations, including payment infrastructure and software services, as well as virtual wallets and smartcards. 

As the adoption of digital payments becomes increasingly commonplace, the mobile payments market is anticipated to experience meteoric growth over the long term. A higher Internet penetration rate and increased usage of smartphones contribute to the growing uptake of digital payments. 

At this stage, we recommend five mobile payments stocks to buy and hold for the long term to strengthen your portfolio. These are: Visa Inc. (V - Free Report) , Paymentus Holdings Inc. (PAY - Free Report) , Corpay Inc. (CPAY - Free Report) , Sezzle Inc. (SEZL - Free Report) and Remitly Global Inc. (RELY - Free Report) . Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

The chart below shows the price performance of our five picks in the past month.

Image Source: Zacks Investment Research

Visa Inc.Visa’s scale and brand strength keep it at the center of global digital payments, with growth still driven by higher payment volumes, cross-border activity, and increasing transaction counts. 

V’s fiscal second-quarter results showed broad momentum across consumer payments, commercial and money movement solutions, and value-added services. Management guides to low-teens revenue growth for fiscal 2026. 

Investments in agentic commerce and stablecoin settlement, alongside targeted acquisitions and disciplined capital returns, should continue to extend its network value over time. With fraud cases on the rise and AI adoption increasing, V’s services are in high demand. Visa has embedded AI and generative AI into over 100 products, primarily for fraud prevention and cybersecurity.

Visa has an expected revenue and earnings growth rate of 13.4% and 14.1%, respectively, for the current year (ending September 2026). The Zacks Consensus Estimate for the current year’s earnings has improved 2% over the last 60 days. 

Paymentus Holdings Inc.Paymentus Holdings provides cloud-based bill payment technology and solutions in the United States and internationally. PAY offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service, secure, and omni channel technology platform. PAY’s platform's payment processing includes credit cards, debit cards, echecks, and digital wallets.

Paymentus Holdings has an expected revenue and earnings growth rate of 19.9% and 19.7%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 3.9% over the last 60 days. 

Corpay Inc.Corpay is a global commercial payments solution provider. Through its portfolio of brands, CPAY helps companies automate, secure, digitize and control payments to, or on behalf of, their employees and suppliers. CPAY serves businesses, partners and merchants in North America, Latin America, Europe and the Asia Pacific.

CPAY’s top line continues to grow organically, driven by increased volume and revenue per transaction from certain payment programs. CPAY relies on a multi-channel approach to actively market and sell its solutions to current and prospective customers. Acquisitions are CPAY’s way to boost its customer base. 

Corpay has an expected revenue and earnings growth rate of 17.3% and 25.6%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 3.1% over the last 60 days. 

Sezzle Inc.Sezzle is a purpose-driven digital payments company operating in the United States and Canada. SEZL’s payment platform increases the purchasing power of consumers by offering interest-free installment plans at online stores and select in-store locations.

SEZL offers Sezzle Platform, which provides a solution for consumers’ payments that extends credit at the point-of-sale, allowing them to purchase and receive the ordered merchandise at the time of sale while paying in installments over time.

Sezzle has an expected revenue and earnings growth rate of 31.6% and 41.8%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 8.5% over the last 60 days. 

Remitly Global Inc.Remitly Global is a mobile-first provider of remittances and financial services for immigrants. RELY a cross-border payment company engages in the provision of digital financial services in the United States, Canada, and internationally. RELY offers cross-border remittances and complementary financial services through mobile application and website.

Remitly Global has an expected revenue and earnings growth rate of 20.4% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved more than 100% over the last 60 days. 

As digital payments continue to evolve, investors must choose between established infrastructure and high-growth disruptors. Mastercard (MA 0.48%) and Remitly Global (RELY +3.28%) represent two distinct ways to play the ongoing shift toward electronic money movement.

Mastercard operates a massive global toll-booth for credit and debit transactions, while Remitly focuses specifically on the digital remittance needs of the world's migrant populations. Comparing these two companies reveals the trade-offs between a highly profitable industry leader and an agile, expanding fintech challenger.

The case for MastercardMastercard operates as a global payments technology giant among financial stocks, processing transactions for financial institutions, merchants, and governments across more than 200 countries. The company recently expanded its ecosystem by integrating stablecoin settlements across eight different blockchains to modernize money movement. It also introduced specialized tools, such as Agent Pay for automated machine payments, and a new personalized advertising platform, Mastercard Commerce Media.

In FY 2025, the company reported revenue of nearly $32.8 billion, representing a growth rate of approximately 16.4%. This performance supported a net income of roughly $15.0 billion for the fiscal year. The company maintained a consistent net margin of approximately 45.6%, showing its ability to convert a high percentage of revenue into profit.

As of its December 2025 balance sheet, the company reported a debt-to-equity ratio of nearly 2.5x. This metric compares total debt to shareholder equity, suggesting the company uses moderate leverage in its capital structure. The current ratio, which measures the ability to cover short-term debts with short-term assets, sits at roughly 1.0x, while the company generated free cash flow of approximately $16.9 billion for the year.

The case for Remitly GlobalRemitly Global focuses on the international remittance market by providing a digital-first platform for migrants to send money to recipients in over 175 countries. The company manages more than 5,300 corridors with significant volume concentrated in India, Mexico, and the Philippines. To stay competitive, it recently integrated money transfer and rate comparison functionality directly into ChatGPT for users in several major markets.

During FY 2025, the business reached revenue of approximately $1.6 billion, which marked a significant increase of nearly 29.4% compared to the previous year. For the first time in recent years, the company achieved a positive net income of roughly $67.9 million. This resulted in a net margin of approximately 4.2%, a notable improvement from the net losses reported in both 2024 and 2023.

The December 2025 balance sheet shows a debt-to-equity ratio of roughly 0.3x, indicating low debt relative to shareholder equity. The current ratio of approximately 3.3x suggests the company has ample liquid assets to meet its upcoming obligations. Note that stock-based compensation accounted for roughly 47.7% of operating cash flow, thereby inflating reported cash generation, since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonThe company faces significant regulatory oversight, including potential caps on interchange fees and new data localization mandates. It also competes with large digital payment networks like Visa (V 0.95%) and emerging government-backed digital infrastructures. Cybersecurity remains a constant threat, and the industry continues to face scrutiny from U.S. regulators regarding its pricing structures and interchange fees.

The business depends on maintaining global money transfer licenses, which subjects it to complex anti-money laundering laws. It also relies on third-party disbursement partners, such as PayPal (PYPL +1.02%), to complete transactions, which creates risks if these partners experience service interruptions. Intense competition from established giants like Western Union (WU 0.70%) could impact market share while the company navigates ongoing class action lawsuit investigations.

Valuation comparisonRemitly Global carries a higher forward P/E, which compares the stock price to future earnings estimates. Conversely, Mastercard's P/S ratio, which measures price against total sales, is significantly higher.

MetricMastercardRemitly GlobalSector BenchmarkForward P/E25.5x31.8x17.2xP/S ratio13.5x2.6xn/aSector benchmark uses the SPDR XLF sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

While both companies operate in the digital payments space, their stocks appeal to different types of investors. One is a smaller company with the potential for faster growth, while the other has competitive advantages and a strong track record of profitability. Which one belongs in investors’ portfolios this year?

Mastercard is well established and well known, operating one of the world’s largest payment networks. It processes payments on credit or debit accounts, but does not serve as a lender itself. It avoids direct credit risk while collecting transaction fees, resulting in a highly profitable business. Its margins are strong, its cash flow is consistent, and it has a network effect that keeps it fairly safe from competition.

Remitly focuses primarily on cross-border payments, making it the service of choice for many immigrants and those living and working abroad. It has been gaining market share and growing revenue, and it achieved profitability for the first time in FY 2025. Remitly is a much smaller company than Mastercard, so its continued success could mean significant gains for shareholders.

Neither stock is necessarily a bad choice. Still, Mastercard appears to offer a better balance of growth, profitability, and stability. Its long operating history and durable competitive advantages make it my choice of the two.

Remitly Global, Inc. (RELY - Free Report) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +97.09%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.19, delivering a surprise of +850%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Remitly Global, which belongs to the Zacks Financial Transaction Services industry, posted revenues of $452.8 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.55%. This compares to year-ago revenues of $361.62 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Remitly Global shares have added about 72% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Remitly Global?While Remitly Global has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Remitly Global was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.12 on $485.16 million in revenues for the coming quarter and $0.51 on $1.95 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial Transaction Services is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, PagSeguro Digital Ltd. (PAGS - Free Report) , has yet to report results for the quarter ended March 2026.

This company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +29%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PagSeguro Digital Ltd.'s revenues are expected to be $1.01 billion, up 22% from the year-ago quarter.

Sending money across borders should be simple by now.

We live in a world where you can order groceries from your couch and open a bank account on your phone. But for millions of people who need to move money across borders, the experience still feels stuck in another era. It’s slow, expensive and riddled with friction.

That’s the frustration that Sebastian Gunningham walked into when he took over as CEO of Remitly about 75 days ago. His blunt assessment of the market? It’s an “underserved and overcharged community” where too many people pay too much for transfers that are unpredictable in timing and quality.

Gunningham shared that view with PYMNTS CEO Karen Webster on the same evening Remitly posted first-quarter earnings.

The conversation that followed wasn’t really about the numbers, although those were strong, with send volume up 37% and active customers hitting 9.6 million. It was about the bigger question. Why does moving money across borders still feel so broken, and what would it take to fix it?

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Part of the answer lies in how the plumbing works. Or doesn’t. International payments typically bounce through layers of correspondent banks, foreign exchange providers and settlement systems. Every layer adds cost and delay.

“Sending money across the world is no fun,” Gunningham said. “It’s expensive. It’s messy.”

That messiness is exactly what’s pushing small businesses onto Remitly’s network, he said.

Webster pointed out that what Remitly is building looks less like a remittance service and more like a global platform business, especially as it moves into services for freelancers, small businesses and consumers who wish to move larger payments cross-border for real estate purchases, tuition payments and bill pay for themselves or family members.

Peeling the Onion, and Liking What’s Inside The earnings were solid. Revenue was up 25% year over year, and the company turned a profit. But Gunningham seemed more interested in talking about what he’s found since taking over.

He used the metaphor of peeling an onion.

“When you join a company, one or two things happen,” he said. “You start to peel the onion.”

Sometimes what you find underneath is a mess. In Remitly’s case, every layer looked “better than I thought,” he said.

One of the surprises? Adjacent markets were already showing up on the platform. People were using Remitly for real estate purchases, savings transfers and business payroll. Those are use cases that go beyond the typical $250 remittance.

What does Gunningham think those customers actually want? Three things, including “low cost,” “speed of money,” and “great service.” Simple enough to say. Much harder to deliver consistently across 175 countries.

That formula will sound familiar to anyone who’s studied Amazon, where Gunningham previously helped build its marketplace and platform businesses. Webster drew the parallel to Amazon’s flywheel mode. The idea that trust and convenience, once established, become self-reinforcing competitive advantages.

Gunningham said he sees the same dynamic playing out in cross-border payments. If people consistently get cheap, fast, reliable transfers from one platform, they stop shopping around. That’s when the flywheel kicks in.

Meanwhile, the customer mix is changing. Remitly’s bread and butter has been transactions averaging about $250, but Gunningham said transfers of $5,000, $20,000, even $30,000 are increasingly common. Those are tied to savings, investments and property purchases.

Then there’s the freelancer economy. Gunningham described meeting workers in Manila who provide virtual assistance, booking services and operational support to companies overseas. They need fast, cheap cross-border payments. And they’re finding Remitly.

The small business opportunity could be enormous.

“If you get 1% of the small business market, that’s like two or three Remitlys right there,” Gunningham said.

That’s a big claim, but it underscores how much room Gunningham sees beyond the company’s traditional consumer base.

Where AI Actually Helps (and Where It Doesn’t Yet) Every payments CEO is talking about artificial intelligence these days, and Gunningham was specific about where it’s making a difference at Remitly, and where it’s not.

“The killer product in AI right now is the software manufacturing,” he said.

In plain terms, AI is supercharging how Remitly’s engineers build and ship products. The old math of headcount times hours no longer applies, and that’s fundamentally changing how fast the company can move, he said.

Consumer-facing AI? That’s a different story. Remitly has experimented with ChatGPT integrations and conversational interfaces, but Gunningham said those efforts are still in the early stages.

Stablecoins are another area where Remitly is testing the waters. In corridors where consumers prefer holding U.S. dollars over local currencies, the company has been experimenting with wallet products and payment cards linked to stablecoin balances.

But Gunningham isn’t rushing in.

“There are a lot of gray areas,” he said of stablecoin regulation. “We are moving very carefully.”

There’s a good reason for that. Countries like Brazil and India are taking different approaches, and regulators globally are still figuring out where they stand.

The net effect is a patchwork of rules that makes it hard to move fast, even when the underlying technology is ready.

Still, the broader opportunity is hard to ignore. Remitly already supports transfers across more than 175 countries, and its infrastructure is increasingly stretching into business payments and financial products built for the people receiving money, not just those sending it.

Gunningham said he knows the competition is coming. Banks, wallets and other FinTechs are all chasing the same market. But he said he doesn’t think branding is going to decide who wins.

“If you are not low cost, fast money, great service, you’re not winning,” he said. It comes back to the basics.

He said he sees the long-term conditions lining up in Remitly’s favor, particularly as software-driven infrastructure lowers the cost of reaching underserved markets.

“We have this big core market and these emerging new markets for us,” Gunningham told Webster. “Some of the tailwinds are that we’re getting much faster growth in these new segments than we had anticipated. And I think it bodes well for the future.”

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SEATTLE, May 12, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) today announced two new features for small and medium sized business customers in the US: Bulk Payments and Send by Link. At the same time, Remitly Business has reached general availability in Canada, joining the US and UK as the offering’s third live market.

Cross-border B2B payments are a massive and underserved $20 trillion global opportunity. Manual payment runs, traditional wire flows, and high error rates can make routine international payments costly, slow, and prone to failure. Remitly Business extends the same compliance, risk, and disbursement infrastructure that 9.6 million quarterly active Remitly customers already rely on to small medium-sized businesses with cross-border financial needs. Remitly Business is built for how small businesses actually work – transparently priced, and designed for an owner-operator running the books, not a corporate treasury team. Since launch, the platform has gained strong traction: send volume grew more than 30% quarter-over-quarter in Q1 2026, with more than 20,000 businesses using the product.

Building on this traction, Remitly is introducing two new features to better serve Remitly Business customers, starting in the US: Bulk Payments and Send by Link.

Bulk Payments Handle Multiple Recipients Faster
With Bulk Payments, Remitly Business customers will be able to pay multiple international recipients in a single workflow. Customers select recipients from a list, see delivery speed, fees, and totals for every payment in one view, and approve. The feature is built for how small businesses pay overseas suppliers, contractors, and remote teams: in regular batches, on tight cadences, executed by business owner-operators rather than a dedicated finance team.

Send by Link Reduces Payment Errors
Incorrect recipient details — a misspelled name, a mismatched government ID, an outdated bank account number — are one of the leading causes of failed cross-border transfers. Today, collecting those details typically means asking vendors and contractors to share sensitive banking information by email or other less secure channels.With Send by Link, the sender initiates a payment using only the recipient's email and phone number. The recipient can provide the rest through a secure link, in their own time, so the sender never has to collect or see sensitive personal information.

"A small business owner shouldn't lose half a day to a single overseas pay run — or deal with transfer delays because of a typo in a recipient's name," said Pankaj Sharma, Chief Business Officer of Remitly. "We’re moving fast to solve the pain points our customers care about most."

Now Generally Available in Canada
Following the successful US launch of Remitly Business in Q2 2025, the offering expanded to the UK and Canada, and is now generally available to Canadian SMBs. The expansion builds on more than a decade of Remitly serving Canadian customers. In 2024, Remitly opened an office in the Vancouver area and joined Fintechs Canada to help shape policy on behalf of Canadian customers, alongside community partnerships with organizations including Web Summit Vancouver, BC Tech, Latincouver, S.U.C.C.E.S.S., the Indo Pacific Foundation, Filipino BC, and Inter Toronto. The company has continued to expand its Canadian payment network, adding support for Interac e-Transfers, major Canadian bank accounts, and debit and credit cards. Most recently, Remitly received registration approval under Canada's Retail Payment Activities Act (RPAA), making the company a regulated payment service provider in Canada and an advocate of advancing Canada’s payments infrastructure with access to open banking and real time payment rails.

"Canadians have trusted Remitly to move money across borders for more than a decade," said Jung Lee, General Manager of Canada at Remitly. "Bringing that same speed and reliability to Canadian business owners was overdue — and the demand we're already seeing makes that clear."

Availability
Remitly Business is currently available to customers in the US, UK, and Canada. Send by Link is generally available to US customers. Bulk Payments is rolling out now to select US customers, with general availability to follow.

About Remitly

Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 175 countries, Remitly's digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.

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