Remittance processor Remitly targets nearly $7 billion valuation in US IPO By Reuters – Investing.com
- Date: 14-Sep-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Remittance processor Remitly targets nearly $7 billion valuation in US IPO By Reuters – Investing.com
(Reuters) -Remittance processor Remitly Inc is aiming for a valuation of nearly $7 billion in its U.S. initial public offering (IPO), a regulatory filing showed on Tuesday.
In May, the company had hired investment banks to prepare for an IPO this year, which could value it at around $5 billion, Reuters reported https://www.reuters.com/technology/exclusive-us-remittance-processor-remitly-hires-advisers-ipo-sources-2021-05-06, citing people familiar with the matter.
Founded in 2011, Remitly is a cross-border remittance provider to customers who are primarily immigrants.
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