Fintech Co. Remitly To Acquire Rewire In $80M Deal

By Renee Hickman (August 16, 2022, 7:52 PM EDT) — International money transfer platform Remitly Global Inc. has reached an agreement to buy Rewire, a financial services provider focused on migrant workers, for $80 million, the companies announced on Tuesday.

Tel Aviv-based Rewire is being sold for a mixture of cash and stock, according to a Tuesday statement. Its platform allows customers to create an account with which money can be stored to be remitted at any time.

“From the start, Remitly has focused on delivering trusted digital financial services to serve immigrant communities around the world,” said Matt Oppenheimer, co-founder and CEO of Remitly. “Peace of mind starts with a…