Remitly Partners with Leading Retailers in Colombia and El Salvador to Help its Customers Send Money Across Borders

Remitly partners with processing and payment network, TransNetwork,
to unlock additional payment collection points in Colombia through Grupo
Exito, the retail leader in Latin America, and the popular payment
network in El Salvador, Remesas y Pagos CUSCA.

SEATTLE–(BUSINESS WIRE)–Remitly,
the largest independent digital remittance company in the United States,
today announced a payment network expansion with processing and payment
platform, TransNetwork,
adding Grupo
Exito to extend its versatile, quick, and mobile-friendly money
transfer service to even more people in Colombia.

Through this partnership, Remitly and Grupo Exito, the retail leader in
Latin America, will make available 250 retail payout locations through
Grupo Exito’s extensive network of stores branded Exito, Carulla, and
Super Inter which will help Remitly better serve the fast-growing
remittance industry in Colombia, which in 2017 reached over $4.9
billion. Over 250 retail locations in Colombia will now provide cash
collection points to Remitly customers and offer extended collection
hours, making it more convenient for recipients to receive their money.

The company also added Remesas y Pagos CUSCA and its sub-agents Walmart,
Despensa de don Juan, SuperSelectos, and Banco Cuscatlan among others
with over 600 locations for individuals to receive money throughout El
Salvador.

By challenging antiquated financial services with an honest,
transparent, user-friendly, and all digital service, Remitly aims to
grow its market share across Latin America and the Caribbean as money
sent to those regions increased by 6.9 percent to $79 billion in 2017
and is estimated to grow more in 2018, according to data published by
the World Bank.

“These partnerships bring hard-working people much-needed transparency,
security, and ease when sending money to loved ones,” said Matt
Oppenheimer, CEO of Remitly. “Our customers now have more control and
many more options in regions that depend greatly on money sent to them
from loved ones working across borders.”

For more information please visit remitly.com.

About Remitly

Remitly is the largest independent digital remittance company
headquartered in the United States, transferring over $4 billion in
annualized volume from its customers in the United States, United
Kingdom, Canada, and Australia 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,
World Bank’s International Finance Corporation (IFC), Naspers’ PayU,
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 TransNetwork LLC

TransNetwork LLC is a Houston-based B2B electronic domestic and
cross-border processing and payment platform which enables licensed and
regulated financial institutions to connect under one standard
technology granting access to a diversified payment network of over
30,000 locations in Mexico, Central and South America. With more than 15
years of experience processing remittances to financial networks and
retail chains, the firm currently operates in Mexico, Guatemala, El
Salvador, Honduras, Nicaragua, Ecuador, Peru and Colombia. For more
information, visit www.transnetwork.com.

About Grupo Éxito

Grupo Exito is the leading retail platform in Colombia with more than
570 stores consisting of the brands Exito, Surtimax, Super Inter and
Surtimayorista, which includes formats such as hypermarkets, premium
supermarkets, convenience stores and wholesalers, having in addition a
digital channel platform for customers to always find what they want,
where they want. The company also has a real estate business with 29
shopping centers; and complementary businesses in areas such as travel,
insurance, cellular telephony and credit cards.

Contacts

Remitly
Britta Gidican, 206-535-6152 ext. 213
Global Head of
Marcomms
Press@remitly.com