Seattle-based money transfer company Remitly priced its shares above the expected range at $43, which will value the company at $6.9 billion. Remitly will raise around $300 million through its IPO.
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Remitly, founded in 2011, initially processed payments between the U.S. and Philippines. The company was founded by CEO Matt Oppenheimer, COO Josh Hug and engineer Shivaas Gulati. The company now processes from 17 countries that can send and 115 countries that can receive transfers. It has 1,600 employees across eight global offices.
The cross-border remittance market was estimated at $1.5 trillion in 2020 per Remitly’s S-1 filing. In the 12 months ending …
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