Seattle-based digital remittance giant Remitly announced Tuesday it plans to acquire Rewire, an Israel-based company founded in 2015 that also facilitates remittances. Remitly will pay about $80 million in cash and stock to buy Rewire, which it described as “geographically complementary.”
Remitly went public last year and reported 42% revenue growth in its most recent quarter. Its stock is down 40% so far in 2022. M&A deals are down from last year’s record but still on pace for the second-most active year.
