Company Overview - Remitly Global focuses on leveraging digital infrastructure to provide secure, efficient, and accessible money transfer services, particularly targeting immigrant communities worldwide [1][5] - The company operates a technology-driven platform that facilitates international money transfers across approximately 150 countries [4][5] Recent Developments - As of November 13, 2025, shares of Remitly Global were priced at $12.49, reflecting a decline of 38.3% over the past year, underperforming the S&P 500 by 48.83 percentage points [2] - Divisadero Street Capital Management, LP significantly reduced its position in Remitly Global by selling 5,036,343 shares, resulting in a remaining stake of just 61,463 shares valued at $1,001,847 as of September 30, 2025 [3][4] Financial Impact - The divestment represented a decrease in position value of approximately $94.68 million, accounting for 0.04% of the fund's $2.29 billion reportable assets under management (AUM) [2][3][4] - The transaction indicated a 3.94% change relative to the fund's reportable AUM [3][4] Market Context - The digital remittance market is becoming increasingly competitive, with rivals like Wise and various fintech wallets driving prices lower, while traditional banks and money-transfer operators are enhancing their offerings through promotions and loyalty programs [7] - High customer acquisition costs and tightening regulatory requirements are challenges that the company faces in maintaining its market position [7] Future Outlook - Investors are now focused on Remitly's path to profitability and the stability of customer behavior across economic cycles, with the potential for the company to expand its role in the evolving remittance ecosystem if it can widen margins without losing core users [8]

Core Insights - Divisadero Street Capital Management's significant selloff of Remitly Global shares signals a shift in investor confidence regarding the company's position in the digital remittance market [1][8] - The reduction in holdings from approximately $94.68 million to just $1.00 million indicates a reevaluation of Remitly's long-term growth potential amidst changing market dynamics [2][3] Company Overview - Remitly Global has a market capitalization of $2.61 billion and reported a revenue of $1.54 billion with a net income of $20.99 million for the trailing twelve months [4] - The company's share price as of November 13, 2025, was $12.49, reflecting a 38.3% decline over the past year, significantly underperforming the S&P 500 by 48.83 percentage points [3] Business Model and Strategy - Remitly operates in the digital remittance industry, providing services across approximately 150 countries, primarily targeting immigrant families with cross-border financial needs [5][7] - The company's strategy focuses on leveraging technology to deliver secure and efficient money transfer services, emphasizing customer experience and addressing the unique needs of its target demographic [5][7] Market Dynamics - The competitive landscape has evolved, with digital-first competitors like Wise and various fintech wallets driving prices lower, while traditional banks and money-transfer operators are enhancing their offerings through promotions [9] - High customer acquisition costs and tightening regulatory requirements pose challenges for Remitly, necessitating a focus on expanding contribution margins as transaction volumes increase [9] Future Outlook - Investors are now closely monitoring Remitly's path to profitability and the stability of its customer base across different economic conditions [10] - If Remitly can successfully widen its margins without alienating core users, it may solidify its position in the evolving remittance ecosystem [10]

As filed with the U.S. Securities and Exchange Commission on , 2025 Registration No. 333-284957 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 to FORM S-1 on FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CURRENC GROUP INC. (Exact Name of Registrant as Specified in its Charter) Cayman Islands 6770 98-1602649 (I.R.S. Employer Identification No.) 410 North Bridge Road, Spaces City Hall, Singapore 188726 Singapore Tel: +65 6407-7362 (Address, Including ...

As filed with the U.S. Securities and Exchange Commission on , 2025 Registration No. 333-284957 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 to FORM S-1 on FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CURRENC GROUP INC. (Exact Name of Registrant as Specified in its Charter) Cayman Islands 6770 98-1602649 (I.R.S. Employer Identification No.) 410 North Bridge Road, Spaces City Hall, Singapore 188726 Singapore Tel: +65 6407-7362 (Address, Including ...