Rewire

Company Overview

Snapshot

Founded in January 2015 by Guy Kashtan, Saar Yahalom, and Or Benoz, Rewire grew to 51–200 employees. The company raised $61.5M across 5 funding rounds from 15 investors. In January 2023, Rewire was acquired by Remitly.

Business overview

Rewire is a licensed remittance company operating in the Fintech & Insurtech sector, specifically focusing on money transfer and management. The company's core service facilitates international money transfers, enabling users to send money from Israel to over 20 countries while optimizing for lower fees and favorable exchange rates. Its platform is accessible across various devices, serving the personal finance needs of migrant workers and consumers in markets such as the Philippines, Nepal, Thailand, Israel, Sri Lanka, and India.

Strategic signal

In January 2023, Rewire was acquired by Remitly, marking a significant exit for the company. This acquisition highlights the increasing consolidation within the cross-border payments sector and Remitly's strategic move to expand its services and reach, particularly within the migrant worker segment. For investors, this signals a successful validation of Rewire's business model and technology in addressing the financial needs of this demographic.

Company Intelligence Q&A

When was Rewire acquired?

Rewire was acquired by Remitly in January 2023, leading to its inactive status.

What was Rewire's last disclosed funding round?

In February 2022, Rewire secured funding from investors including Migdal Insurance.

Which company did Rewire acquire?

In June 2022, Rewire acquired Imagen Cards, a prepaid card provider, to enhance its payment offerings for migrants.

What was a key strategic focus for Rewire in early 2021?

In March 2021, Rewire raised funding from investors including OurCrowd and Moneta VC to expand its financial services tailored for migrant workers.

What was Rewire's funding activity in March 2019?

In March 2019, Rewire received funding from investors including OurCrowd and Moneta VC.