Based in 2015 with places of work in Amsterdam and Tel Aviv, the Rewire app supplies migrent staff with cash switch, debit playing cards, native cost accounts (IBAN), insurance coverage merchandise and the flexibility to make cross-border invoice funds.
Josh Hug, co-founder and COO, Remitly, explains the rationale for the deal: “Rewire’s product staff has targeted on fixing complementary issues remittance clients have, and we look ahead to partnering with them to deepen Remitly’s buyer relationships by fixing these issues in a high-quality method.”
He provides that Rewire’s remittance hall is geographically complementary to Remitly.
The transaction is predicted to shut within the second half of 2022. The $80 million consideration consists of money and inventory.,International remittance outfit Remitly is to amass Rewire, an Israeli-based monetary providers platform for migrant staff, for $80 million.,
