SEATTLE--(BUSINESS WIRE)--Remitly, the largest independent digital remittance company in North America, today announced its expansion to 11 new send countries across Europe giving millions of customers access to a modern and convenient remittance experience.
“In one year, we’ve expanded from three send countries to now serving 15, representing over $121 billion in remittance flows annually. This expansion brings Remitly’s world-class product and technology to even more immigrant communities with the need to send money to their loved ones back home,” said Karim Meghji, Chief Product Officer at Remitly.
Remitly launched its service in the United Kingdom last year and has now expanded into additional send countries across Europe. Customers across Europe can use Remitly’s reliable and easy-to-use mobile app that makes the process of sending money faster, easier, more transparent and less costly by eliminating the forms, codes, agents, extra time and fees typical of the traditional, century-old money transfer process.
Customers in Europe will also experience one of Remitly’s most popular features, the Perfect Delivery Promise, an exact date and time promise of when a customer and their recipient can expect the funds to arrive. Once the Perfect Delivery Promise is provided to a customer, Remitly tracks the movement of funds to its destination, updating customers and recipients each step of the way.
Remitly’s global network of partners supports money transfers into bank accounts, home delivery or cash pick-up, to help reach recipients anywhere they live — from big cities to remote, rural areas around the world. Remitly is now available in Austria, Belgium, Denmark, Finland, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, and the United Kingdom. Outside of Europe, Remitly is also available to customers in Australia, Canada, and the United States.
The company partnered with payment processing platform Stripe to help process transactions in various European currencies while minimizing customer friction. This partnership also enables Remitly to quickly expand its payment mechanisms on a global basis and beyond Europe.
“As a global remittance company, we focus on providing customers with the most trusted financial services,” said Meghji. “Stripe was a natural partner choice, given their global, robust and high-quality payment processing platform and its ability to support our mission to serve immigrant communities. Our strong global platform can help immigrants do more to manage their full financial lives and we’re excited to serve these communities in new transformative ways.”
“As one of the world’s largest platforms for online businesses, we’re excited to work with Remitly and support their expansion into new markets, reaching new customers, and helping more communities around the world,” said Richard Alfonsi, Head of Global Revenue & Growth at Stripe.
For more information visit remitly.com.
Remitly is an independent digital remittance company that transfers over $6 billion in annualized volume through its proprietary global money transfer network across Africa, Asia, Central, and South America. Its reliable and easy-to-use mobile app makes the process of sending money faster, easier, more transparent and less costly by eliminating the forms, codes, agents, extra time and fees typical of the traditional, century-old money transfer process. Remitly is backed by industry-leading investors, World Bank’s International Finance Corporation (IFC), Naspers’ PayU, Silicon Valley Bank, Stripes Group, DFJ, DN Capital, QED Investors, Trilogy Equity Partners, Bezos Expeditions, Founders’ Co-Op, and TomorrowVentures. The company is headquartered in Seattle, with additional offices in London, the Philippines, and Nicaragua. For more information, visit remitly.com.
Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size—from high-growth technology companies like Deliveroo and Kickstarter to public companies like Salesforce and Sage—use the company’s software to accept online payments and run technically sophisticated financial operations in more than 120 countries. Nearly half of U.K. internet users made a purchase on Stripe in the past year. Headquartered in San Francisco, with nine global offices in North America, Europe, Australia, and Asia, Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models. Over the long term, Stripe aims to increase the GDP of the internet.