Remitly, a digital financial services provider for immigrants, has expanded into Asia Pacific (APAC) including Japan and New Zealand.
The company has helped customers send $2.5billion in remittance volume from APAC so far. Remitly is planning for further growth as access to its platform becomes available new customers in the region.
According to Matt Oppenheimer, co-founder and CEO of Remitly, the company is on a mission to transform international payments.
“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 Oppenheimer.
“Helping customers send more than $2.5billion 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.”
According to the World Bank, remittances sent from Japan have doubled since 2015 to $8.25billion in 2020. Additionally, personal remittances sent from New Zealand nearly quadrupled over the past 20 years, totaling close to $875million.
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 products and network.
Remitly’s disbursement network reaches 3.9 billion bank accounts, 705 million mobile wallets, 410,000 cash pickup locations, and offers home delivery in select locations. Founded in 2011, Remitly is headquartered in Seattle with seven global offices, including London, Cork, Singapore, Manila and Managua.