Remittance company Remitly is set to acquire Rewire.
In Brief:
Rewire is a financial services platform for migrant workers, based in Israel.
It offers money transfer capabilities, debit cards, local payment accounts and insurance products.
The deal should close at $80mn, including cash and stock, by the end of this year.
What does this mean?
Remitly says that Rewire’s product team has a focus on solving the problems of remittance customers, and this will help deepen Remitly’s customer relationships.
