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Remitly Releases Update to Money Transfer Service to India and Signs R. Madhavan as Brand Ambassador

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Remitly increases 24-hour send limit to India to $30,000 as it works
with the critically acclaimed actor,
R. Madhavan, to better
connect with Indian diaspora around the world.

Today Remitly, the largest private digital remittance company
headquartered in the United States, announced it has released an update
to its money transfer service to India. The update moves its daily
sending limit to $30,000 on money sent to India from the United States.
The company also announces it has enlisted critically acclaimed
Bollywood actor, R. Madhavan as its brand ambassador.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180815005193/en/

Remitly increases 24-hour send limit to India to $30,000 as it works with the critically acclaimed a ...

Remitly increases 24-hour send limit to India to $30,000 as it works with the critically acclaimed actor, Maddy, to better connect with India's overseas communities around the world. (Photo: Business Wire)

"The remittance industry is undergoing a rapid digital transformation
and India is the top receiver of remittances in the world, receiving
over $69 billion in remittances in 2017, higher than any other country,"
said Matt Oppenheimer, Remitly CEO. "This is a credit to India's
overseas communities around the world. They made the courageous decision
to move to another country to live and work, sending their earnings back
to loved ones in India. We're committed to this community and honored to
make the experience of sending money across borders easier for the
hard-working individuals that contribute so much. We are delighted to
welcome Maddy to the Remitly team and excited to launch our new campaign
with him."

Remitly helps individuals in the United States, United Kingdom, Canada,
and Australia send money to India easier, faster, and at a lower cost.
The company remains committed to India's overseas community as evidenced
by its growing partner network of over 150 banks for receivers in India
and its recent update to the U.S. to India daily sending limit.

"I look forward to working with the Remitly team to build deeper
connections with India's overseas community in service of their mission
to transform the lives of immigrants and their families around the
world," said acclaimed Bollywood actor, R. Madhavan. "Remitly is
excellent and makes it easier for NRIs to send money to India."

About Remitly

Remitly is the largest independent digital remittance company
headquartered in the United States, transferring $5 billion in
annualized volume from its customers in the United States, United
Kingdom, Australia, and Canada to loved ones throughout the world. The
company's proprietary global transfer network includes its easy-to-use
mobile app, which makes the process of sending money faster, easier,
more transparent, and less costly by eliminating the forms, codes,
agents, extra time and fees typical of the traditional, century-old
money transfer process. Remitly is backed by industry-leading investors
Naspers' PayU, World Bank's International Finance Corporation (IFC),
Silicon Valley Bank, Stripes Group, DFJ, DN Capital, QED Investors,
Trilogy Equity Partners, Bezos Expeditions, Founders' Co-Op, and
TomorrowVentures. The company is headquartered in Seattle, with
additional offices in London, the Philippines, and Nicaragua. For more
information, visit Remitly.com.

About R. Madhavan

R. Madhavan is a critically acclaimed actor known most notably for his
roles in Rehna Hai Tere Dil Mein, Alaipayuthey, Guru, 3 Idiots, Rang de
basanti, Vikram Vedha, Tanu Weds Manu, and the new web series, Breathe.
R. Madhavan joins Remitly as a brand ambassador as the company continues
its international expansion efforts to bring its service to more
overseas Indian communities worldwide.

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