SEATTLE--(BUSINESS WIRE)--Remitly, the largest independent digital remittance company in the United States, announced today that the company has hired Krish Srinivasan to be chief financial officer (CFO). Srinivasan will bring 20 years of experience in financial planning, analysis and investor relations, having served in executive positions at Microsoft, Amazon and Lyft. Concurrent with this transition, Andy Larson, who served as Remitly’s CFO for the past three years, will take on new leadership responsibilities within the company’s management team.
“I’m incredibly excited that Krish is joining our fast-growing team. As a fintech company, his depth of experience across a wide range of businesses will be of great value as we continue to rapidly scale,” said Remitly CEO Matt Oppenheimer. “Krish’s addition is a reflection of the growing needs of our company and I’m confident his wealth of experience will help us achieve our goals.”
Srinivasan most recently served as the vice president of finance for Lyft, where he built out the finance team and infrastructure for the ride sharing company and established systems and processes to support Lyft’s continuing growth.
Prior to Lyft, Srinivasan worked at Amazon for several years. During this time, he served as the first CFO of Amazon India, helping launch the company’s online presence there; CFO of Amazon Japan during a period of high growth and expansion; and finance director of Amazon’s U.S. Hardlines business, where he was responsible for the division’s financial planning and analysis. Before Amazon, he spent more than 10 years with Microsoft where his contributions included leading the Investor Relations team through the financial and accounting challenges in the early 2000s, and building out the company’s long-term strategy in India.
“Remitly is at the forefront of changing how money is transferred internationally, and the company’s mission to dramatically improve the cost, transparency and ease with which customers are able to do this is very near and dear to me,” said Srinivasan. “The team’s execution, in driving adoption and scale, has been impeccable, and I’m excited to help drive even more growth in the coming months and years.”
The expansion to Remitly’s executive team comes during a period of rapid growth for the Seattle-based company. Remitly announced in January that its customers are transferring more than $1 billion annually through its mobile service, which allows for low-cost and transparent money transfers between the United States and three of the largest remittance markets – the Philippines, India and Mexico. Founded in 2011 by CEO Matt Oppenheimer, Chief Product Officer Josh Hug and Founding Engineer Shivaas Gulati, the company experienced 400 percent growth year-over-year in 2015 and has plans to expand into additional markets during the current year.
Remitly is a mobile payments service, supported on Android, iOS and online, that enables consumers to conveniently make person-to-person international money transfers from the United States. Its digital service uses the latest technology to eliminate the forms, codes, agents, extra time and fees typical of the traditional money transfer process. Remitly is authorized to operate in 49 states (including Washington, D.C.) and sends millions of dollars to thousands of people each week. Remitly is backed by industry-leading investors, including DFJ, DN Capital, QED Investors, Trilogy Equity Partners, Bezos Expeditions, Founders’ Co-Op and TomorrowVentures. Remitly is headquartered in Seattle, Wash., with additional offices in the Philippines. For more information, visit www.remitly.com.