Remitly Global (RELY) Wolfe FinTech Forum summary

Market opportunity and business model

• Operating in a trillion-dollar payments market with less than 4% share in its core segment, with significant room for expansion across sender, high-value sender, business, and receiver categories.

• Built a trusted global network across 5,500 corridors and 170 countries, serving over 20 million receivers annually.

• Focused on underserved populations, leveraging strong unit economics that improve with scale.

• Identifies substantial untapped potential in business payments and receiver-focused offerings.

• Geographic expansion includes early-stage growth in the Middle East and Gulf region, with continued investment planned.

Financial performance and outlook

• Achieved nearly 30% revenue growth and over 100% EBITDA-to-free-cash-flow conversion in 2025, with EBITDA margins rising 500 basis points year-over-year.

• 2026 guidance projects 19%-20% revenue growth, with stronger performance expected in the second half due to seasonality and new product scaling.

• Medium-term targets include maintaining high-teens growth rates through 2028, driven by new customer cohorts and product innovation.

• Marketing efficiency improved via data-driven targeting and increased word-of-mouth, supporting margin expansion.

• Balanced approach to growth, profitability, and reinvestment, with a focus on compounding long-term free cash flow per share.

Product innovation and technology

• AI is seen as a major driver for cost reduction, speed, and trust, with internal adoption accelerating productivity and efficiency.

• External AI deployment is approached cautiously to preserve customer trust, with limited direct customer-facing AI until trust standards are met.

• New products like send now, pay later (Flex) are selectively offered to targeted cohorts, showing higher take rates and strong unit economics.

• Business payments platform is in early stages, with upcoming features to streamline payments for SMBs and freelancers globally.

• Stablecoin payouts are growing in high-inflation markets, with product offerings tailored to corridor-specific needs.