Remitly Global has expanded its secured revolving credit facility from $550 million to $1 billion, increasing the borrowing capacity available to support its remittance business. The company said it expects to use the facility primarily to prefund customer transfers, as well as for general corporate purposes.
The amendment also doubles the facility’s letter-of-credit capacity. It does not, by itself, establish how much Remitly has borrowed.
Key details
- The total revolving credit commitment increased by $450 million, from $550 million to $1 billion.
- The letter-of-credit sublimit rose from $200 million to $400 million.
- Remitly expects to use proceeds mainly to prefund customer flows in its global remittance business, with the option to use them for general corporate purposes.
- The facility is secured. The amendment was dated October 26, 2026, and updates a credit agreement originally entered into in June 2025.
Plain-English implications
The larger facility gives Remitly more committed borrowing capacity for funding customer transfers and other corporate needs. The increase is in available credit, not a disclosed cash infusion; the announcement does not specify how much, if any, of the expanded facility Remitly has drawn.