Remitly is a digital-first platform for international money transfers, primarily serving individuals who send money to family members abroad across more than 5,300 corridors in 175+ countries. Customers interact with Remitly almost entirely through its mobile app or website, funding transfers via bank accounts, debit/credit cards, or digital wallets. Recipients receive funds through bank deposits, mobile wallets, or cash pickup at roughly 490,000 locations globally. Remitly earns revenue from two sources on each transaction: a fixed or tiered transaction fee charged to the sender, and an FX spread between the exchange rate Remitly sources and the rate it offers customers. As volumes grow, Remitly negotiates better rates with payment processing partners, improving unit economics — a scale-driven dynamic central to the business model. The majority of revenue in any given period comes from customers acquired in prior periods, giving the business strong recurring revenue characteristics. Beyond its core remittance product, Remitly is expanding into adjacent offerings: Remitly Flex (a send-now, pay-later product), a multicurrency Wallet and debit Card, and Remitly Business, which serves small businesses paying international contractors and vendors at roughly double the average consumer transaction size. The largest send-side markets are the U.S., Canada, and the U.K./Europe, with India, Mexico, and the Philippines among the top receive markets by volume.