Remitly closes research center in Israel and lays off more than half of employees

According to Globes, the Israeli branch employed about 200 people, 110 of them, including employees in development departments, were laid off. Several dozen employees will remain in Israel, mainly in the sales and commercial departments.

Remitly works in the field of international money transfers.

Israeli startup Rewire has created a platform for electronic money transfers from employers to foreign workers. Last April, the Bank of Israel assigned Rewire a bank code allowing access to the Israeli banking system.