Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a leading digital financial services provider for immigrants and their families in over 170 countries around the world, today announced key business milestones in the Asia-Pacific (APAC) region.
Remitly has expanded its global footprint to include Japan and New Zealand. To date, Remitly has helped customers send $2.5 billion in remittance volume from APAC, and the company is poised for further growth as access to its trusted platform becomes available to millions of new customers in the region.
According to the World Bank, remittances sent from Japan have doubled since 2015 to $8.25 billion in 2020. Additionally, personal remittances sent from New Zealand nearly quadrupled over the past 20 years, totaling close to $875 million. Once Remitly’s new APAC send corridors are operational, customers in Japan and New Zealand will be able to send money across more than 150 corridors using Remitly's mobile-centric suite of products and best-in-class global network, providing customers and their loved ones a range of disbursement options to meet their specific needs.
“Remitly is proud to serve immigrants living in Asia and the greater Pacific region and to leverage the investments we’ve made in our global payments platform to be the trusted provider for customers sending money home to their loved ones,” said Matt Oppenheimer, co-founder and CEO, of Remitly. “We are on a mission to transform international payments. Helping customers send more than $2.5 billion from the region to date is a testament not only to strong demand, but also to the world-class customer experience Remitly provides, making the process of getting money home faster, simpler, and more reliable.”
“Remitly's strategic approach to expansion leverages the significant payments infrastructure we've built over more than a decade, and is underpinned by our commitment to customers around the world,” said Pankaj Sharma, Executive Vice President, International at Remitly. “Establishing business in Japan and New Zealand will open key corridors as we thoughtfully expand our platform to meet increasing customer demand for trusted financial services”
Remitly’s expansive disbursement network reaches 3.9 billion bank accounts, 705 million mobile wallets, 410,000 cash pickup locations, and offers home delivery in select locations. The best-in-class global network provides an exceptional customer experience, including faster transfers, higher acceptance rates, and improved reliability. While the footprint of the platform continues to grow to more than 3,200 corridors, service is localized for a more personal, differentiated customer experience.