Rewire

International Money Transfer

Fintech & Insurtech
Non Active, Jan 2023 due to acquisition

Company Overview

Snapshot

Founded in January 2015 by Guy Kashtan, Saar Yahalom, and Or Benoz, Rewire operates with 51–200 employees. The company has raised $61.5M across 5 funding rounds from 15 investors. In January 2023, Rewire was acquired by Remitly for $80 million.

Business overview

Rewire is a licensed remittance company operating in the Fintech & Insurtech sector, specifically focusing on Money Transfer & Management. The company provides an international money transfer service designed to help users save on fees and rates when sending money from Israel to over 20 countries. Its core technology is a web and mobile platform accessible from any internet-connected device, offering savings on currency conversion and transfer costs to its consumer base.

Strategic signal

In January 2023, Remitly completed its acquisition of Rewire for $80 million. This acquisition signals a strategic consolidation within the cross-border remittance market, allowing Remitly to expand its reach and integrate Rewire's specialized services for migrant workers. For investors, this demonstrates a successful exit for Rewire and highlights the ongoing value and demand for fintech solutions addressing the financial needs of migrant populations.

Company Intelligence Q&A

What was the most significant corporate event for Rewire in early 2023?
In January 2023, Remitly completed its acquisition of Rewire for $80 million, marking a significant exit for the company.
What was Rewire's last known acquisition?
In June 2022, Rewire acquired Imagen Cards, a prepaid card provider, to expand its payment offerings for migrants.
Which investors participated in Rewire's February 2022 funding round?
In February 2022, Rewire secured funding from Migdal Insurance and Financial Holdings and Moneta VC.
What was the total capital raised by Rewire?
Rewire raised a total of $61.5 million across 5 funding rounds prior to its acquisition.
What was the focus of Rewire's March 2021 funding round?
In March 2021, Rewire raised funding from OurCrowd and Moneta VC to expand its financial services specifically for migrant workers.

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