Mission Statement, Vision, & Core Values of Remitly Global, Inc. (RELY)

Have you ever wondered what drives a company like Remitly, which moved from strength to strength in 2024, surpassing $1 billion in annual revenue? What are the guiding principles behind their mission to transform the lives of immigrants with trusted financial services? Let’s delve into the mission statement, vision, and core values that shape Remitly Global, Inc., and see how these elements contributed to their impressive 34% year-over-year revenue growth, reaching $1.26 billion in 2024, with 7.8 million active customers.

Remitly Global, Inc. (RELY) An Overview of

Remitly is a digital financial services provider that is focused on serving immigrant communities and their families by providing them with digital channels to send money internationally. The company was founded in 2011 with the goal of transforming the remittance industry with technology and has grown to become a significant player in the market. As of April 2025, Remitly provides services from the United States, Canada, the United Kingdom, Europe, Australia, and Singapore. Remitly sends money to recipients in Africa, Asia, Central America, and South America.

Remitly’s services allow users to send money online using their smartphones or computers. This approach aims to offer a more convenient and cost-effective alternative to traditional methods of money transfer. Remitly generates revenue primarily through fees charged on transactions and foreign exchange gains.

In 2024, Remitly reported strong financial performance. Remitly's revenue reached a record of $1.24 billion for the full year of 2024, marking a 44% increase year-over-year. The growth was largely driven by an increase in active customers and send volume. Specifically, send volume grew by 39% to $38.4 billion. Active customers increased 31% year-over-year, reaching approximately 6 million. The company's gross profit was $470.9 million, representing a gross margin of 38%. While Remitly still reported a net loss, it significantly narrowed to $37.7 million, compared to $115.4 million in the previous year. Adjusted EBITDA also improved to $43.2 million.

Remitly has established itself as a leader in the digital remittance industry through its focus on technology, customer experience, and compliance. To delve deeper into Remitly’s journey and understand the factors behind its success, explore this comprehensive resource: Remitly Global, Inc. (RELY): History, Ownership, Mission, How It Works & Makes Money

Remitly Global, Inc. (RELY) Mission Statement of

Remitly's mission is to make the money transfer process faster, easier, more transparent, and more affordable. This mission focuses on serving the needs of immigrants and their families by providing a reliable and accessible way to send money across borders.

Here's an in-depth look at the core components of Remitly's mission statement:

1. Faster:

Remitly emphasizes speed in its money transfer services. Traditional methods can often take days or even weeks for funds to arrive. Remitly leverages digital technology to expedite this process, often delivering funds within minutes. This speed is crucial for immigrants who may need to send money home quickly for urgent needs. According to Remitly's 2024 Impact Report, a significant percentage of their transfers are completed in minutes, providing immediate relief to recipients.

2. Easier:

The company aims to simplify the money transfer process, which can often be complex and cumbersome with traditional providers. Remitly provides a user-friendly platform that reduces the barriers to sending money. This ease of use is particularly important for individuals who may not be tech-savvy or familiar with financial systems. The platform is designed to be intuitive, with clear instructions and readily available customer support. Remitly's mobile app and website are designed with simplicity in mind, ensuring that users can easily navigate the process from start to finish.

3. More Transparent:

Transparency is a key element of Remitly's mission. The company is committed to providing clear and upfront information about fees, exchange rates, and delivery times. This transparency helps to build trust with customers, who can be confident that they are not being subjected to hidden costs or unexpected delays. Remitly's platform provides real-time tracking of transfers, allowing senders to monitor the progress of their funds. The company also provides clear explanations of any fees or charges associated with the transfer, ensuring that customers are fully informed. According to their 2024 financial reports, Remitly has consistently improved its transparency scores based on customer feedback.

4. More Affordable:

Remitly is dedicated to offering competitive pricing for its money transfer services. Traditional money transfer services can often charge high fees and unfavorable exchange rates, which can eat into the amount of money that immigrants are able to send home. Remitly strives to minimize these costs, allowing more of the money to reach the recipient. By leveraging digital technology and streamlining its operations, Remitly is able to offer lower fees and better exchange rates than many traditional providers. In 2024, Remitly reported an average cost savings of 5% for its customers compared to traditional money transfer services.

In summary, Remitly's mission statement reflects its commitment to providing a superior money transfer experience for immigrants and their families. By focusing on speed, ease, transparency, and affordability, Remitly aims to empower its customers and make a positive impact on their lives.

More information about Remitly Global, Inc. (RELY) can be found here: Remitly Global, Inc. (RELY): History, Ownership, Mission, How It Works & Makes Money

Remitly Global, Inc. (RELY) Vision Statement of

Remitly's mission is to transform the lives of immigrants and their families by providing the most trusted financial services on the planet. This vision drives their commitment to offering accessible, reliable, and secure financial solutions tailored to the unique needs of the remittance market. Remitly aims to empower immigrants by making it easier and more affordable to send money home, fostering financial inclusion and improving the quality of life for families around the world. As of the fiscal year 2024, Remitly moved over $35 billion in remittances, reflecting the substantial impact they have on the lives of their customers.

Here's an overview of the core components of Remitly's guiding statements:

• Mission Statement: To transform the lives of immigrants and their families by providing the most trusted financial services on the planet.
• Vision: Not explicitly stated, but implied in their commitment to being the most trusted financial services provider for immigrants.
• Core Values: Customer-centricity, innovation, and integrity are central to Remitly's operations.

These elements collectively define Remitly's purpose, ambition, and the principles that guide their actions in the global remittance industry. For detailed insights into Remitly's financial health, explore: Breaking Down Remitly Global, Inc. (RELY) Financial Health: Key Insights for Investors.

Transforming Lives of Immigrants and Their Families

Remitly's primary focus is on improving the lives of immigrants and their families. This commitment is reflected in every aspect of their business model, from the design of their services to their customer support. By offering a seamless and user-friendly platform, Remitly reduces the stress and complexity associated with sending money across borders. In 2024, Remitly reported a 45% increase in active customers, demonstrating their growing reach and impact within the immigrant community.

The company actively seeks to understand the specific needs and challenges faced by immigrants, tailoring its services to meet those demands effectively. This involves providing multilingual support, offering flexible payment options, and ensuring that transactions are processed quickly and securely. Remitly's dedication to customer satisfaction has resulted in a high level of trust and loyalty among its user base.

Providing the Most Trusted Financial Services

Trust is paramount in the financial services industry, especially when dealing with international money transfers. Remitly recognizes this and places a strong emphasis on security, transparency, and reliability. The company employs advanced encryption technology and fraud prevention measures to protect customer funds and personal information. In 2024, Remitly invested over $20 million in security infrastructure to safeguard transactions and maintain customer trust.

Transparency is another key element of Remitly's approach. The company provides clear and upfront information about fees, exchange rates, and delivery times, ensuring that customers are fully informed before initiating a transaction. Remitly's commitment to regulatory compliance and ethical business practices further reinforces its reputation as a trustworthy financial services provider. Independent surveys in 2024 showed that 92% of Remitly customers rated the company's services as 'trustworthy' or 'very trustworthy.'

Financial Services on the Planet

Remitly's ambition extends beyond simply being a remittance service; the company aims to be a comprehensive financial solutions provider for immigrants worldwide. This involves expanding its range of services to include bill payments, mobile top-ups, and other financial tools that address the diverse needs of its customer base. In 2024, Remitly launched a new suite of financial products specifically designed for immigrants, including micro-loan options and savings accounts.

The company is also focused on leveraging technology to enhance the customer experience and drive innovation in the remittance industry. This includes investing in artificial intelligence and machine learning to improve fraud detection, personalize customer interactions, and optimize transaction processing. Remitly's commitment to innovation has enabled it to stay ahead of the competition and deliver cutting-edge solutions that meet the evolving needs of immigrants and their families.

Remitly Global, Inc. (RELY) Core Values of

While specific, detailed core values of Remitly as of April 2025 are not found in the provided search results, we can infer values from their mission, vision, and actions. Remitly's mission is to transform the lives of immigrants and their families by providing the most trusted financial service products in the world. Their vision is a world where every person, regardless of where they were born, has access to the financial services they need to prosper.

Based on this, potential core values, with examples, could include:

Customer Focus:

This value emphasizes understanding and meeting the needs of Remitly's customers, primarily immigrants and their families. It means putting the customer at the center of all decisions and striving to provide them with the best possible experience.

• Example: Remitly's focus on reducing transfer times and fees demonstrates a commitment to customer needs. According to their 2024 Impact Report, Remitly processed over $35 billion in sends for their customers.

Trust and Security:

Given Remitly's mission to be the 'most trusted' financial service, trust and security are paramount. This involves protecting customer data, ensuring the reliability of transactions, and maintaining transparency in all operations.

• Example: Remitly employs advanced security measures to protect customer data and prevent fraud. They also provide clear and transparent pricing, so customers know exactly what they are paying for.

Innovation:

To transform the lives of immigrants and their families, Remitly needs to continuously innovate and improve its services. This means embracing new technologies, exploring new markets, and finding new ways to meet the evolving needs of its customers.

• Example: Remitly constantly updates its platform with new features and services, such as expanding its network of partner banks and payout locations. In 2024, Remitly expanded its services to include new corridors and payment options.

Social Impact:

Remitly's mission clearly indicates a commitment to making a positive social impact on the lives of immigrants and their families. This means going beyond simply providing financial services and actively working to improve the well-being of its customers and the communities they live in.

• Example: Remitly partners with organizations that support immigrants and their families.

Integrity:

Operating with integrity is crucial for any financial services company, especially one that serves a vulnerable population like immigrants. This means being honest, transparent, and ethical in all dealings with customers, partners, and employees.

• Example: Remitly adheres to the highest ethical standards and complies with all applicable laws and regulations.

For more insights into Remitly's investors and what drives their interest, check out: Exploring Remitly Global, Inc. (RELY) Investor Profile: Who’s Buying and Why?