Remitly Appoints Sebastian J. Gunningham as CEO
Remitly, a popular remittance service, has recently announced the appointment of Sebastian J. Gunningham as its new CEO. This decision comes as the company’s co-founder, Matt Oppenheimer, transitions to a role as board chair. Gunningham, who officially takes over as CEO on Thursday, brings a wealth of experience to the position, having previously served as the chair of Santander Consumer Finance and vice chair of Santander’s digital platform, Openbank.
In a video message to employees and investors, Oppenheimer highlighted Gunningham’s extensive executive background, which includes roles at tech giants like Amazon, Apple, and Oracle. He also emphasized Gunningham’s multinational background, noting his understanding of the challenges faced by individuals navigating life in a new country while maintaining connections with their homeland.
Impressive Financial Performance
The announcement of Gunningham’s appointment coincided with Remitly’s release of its fourth-quarter and full-year earnings for 2025. The company reported significant growth across key metrics, with a 37% increase in send volume to $74.9 billion, a 29% year-over-year revenue jump to $1.6 billion, and a turnaround from a $37 million loss in 2024 to a $67.9 million net income in 2025. Additionally, Remitly’s customer base expanded by 19% to 9.3 million users.
Oppenheimer expressed confidence in the company’s trajectory, stating that Remitly is evolving beyond a cross-border payments platform to become a modern financial hub for globally connected individuals. He also highlighted the company’s refreshed strategy, unveiled at a recent investor day, which focuses on expanding its services to provide broader and more ambitious offerings to customers.
Looking Towards the Future
Gunningham’s appointment comes at a crucial juncture for Remitly, as the company faces increased competition from industry rivals like Wise, MoneyGram, and Western Union. In an interview with Bloomberg, Gunningham acknowledged the challenges ahead but expressed confidence in Remitly’s strong foundation for growth.
As Oppenheimer transitions to the role of board chair, he emphasized the importance of maintaining a founder’s mindset while also pursuing personal interests and contributing to cross-industry efforts in global financial services. He noted that the decision to step down from the CEO position was made thoughtfully, with a focus on finding a leader who could build upon Remitly’s success.
Overall, Gunningham’s appointment signals a new chapter for Remitly as it continues to expand its offerings and drive growth in the competitive remittance market.
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