Seattle-based digital remittance large Remitly announced Tuesday it plans to amass Rewire, an Israel-based firm based in 2015 that additionally facilitates remittances. Remitly can pay about $80 million in money and inventory to purchase Rewire, which it described as “geographically complementary.”
Remitly went public final 12 months and reported 42% income progress in its most recent quarter. Its inventory is down 40% to date in 2022. M&A offers are down from final 12 months’s file but still on pace for the second-most active year.