Remitly’s expansion beyond traditional consumer remittances is gaining traction, with its Business Receivers surpassing 25,000 active businesses in the second quarter of 2026, while separate high-value sender activity included the company’s first $300,000 transaction and the first customer to reach $1 million in volume.
Business Receivers generated revenue for the first time during Q2 and showed sequential acceleration in both volume and revenue growth. Remitly said the offering creates an opportunity to build relationships with the more than 30 million receivers already connected to its global platform.
The company’s High Value Senders business is also scaling. Volume from customers sending at least $5,000 per transaction increased 37% year-over-year, while its share of total Remitly volume increased by 70 basis points. The segment recorded its first $300,000 individual transaction and first $1 million-volume customer.
These initiatives are part of a broader strategy to expand Remitly from its core international money-transfer business into additional financial services. The company’s growth opportunities now span high-value transfers, business receivers, cards, wallets, savings, borrowing and Send Now, Pay Later products.
Remitly Global Card launched in the U.S. and select international markets during the period. The product combines the ability to send, spend, save and borrow, including lower-fee remittances, access to short-term credit, no transaction fees on spending and the ability to hold or transfer money in fiat currencies or USDC. Remitly also launched a stablecoin card and wallet in select Latin American markets.
Send Now, Pay Later revenue more than doubled year-over-year in Q2, providing another indication that Remitly is beginning to monetize services outside its traditional transaction model.
The expansion is occurring alongside continued growth in the core platform. Quarterly active customers reached 10.2 million, up 20% year-over-year, while send volume increased 27% to $23.5 billion. Revenue increased 20% to approximately $495 million.
Adjusted EBITDA increased 79% to $114.7 million, with Adjusted EBITDA margin expanding to 23.2% from 15.5% a year earlier. Q2 net income reached $205.9 million, although that figure included a $140.6 million discrete tax benefit associated with the release of a U.S. valuation allowance.
Cash generation also accelerated sharply. Operating cash flow reached $134.6 million, while free cash flow increased to approximately $130.1 million from $43.8 million a year earlier. Free cash flow margin expanded to 26.3% from 10.6%.
Remitly expects full-year 2026 revenue of $1.978 billion to $1.988 billion, representing 21% to 22% growth, and Adjusted EBITDA of $410 million to $415 million. For Q3, revenue is expected between $505 million and $507 million, with Adjusted EBITDA of $92 million to $94 million.
