DiscoverThe Intrinsic Value Podcast - The Investor’s Podcast NetworkTIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O’Malley
TIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O’Malley

TIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O’Malley

Update: 2025-08-101
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Daniel & Shawn dive into Remitly, the digital remittance platform aiming to disrupt a $2 trillion global market. After years of prioritizing customer acquisition and corridor expansion over profits, Remitly is now approaching a critical inflection point, one where scale, margin leverage, and cash generation could unlock a new phase of investor confidence. But there are risks as well: crypto-native challengers, regulatory uncertainty, and broader concerns about the remittance industry all raise the question of whether the upside is worth the risk.




Here, they unpack Remitly’s moat, including its direct payout network, risk engine, and customer trust, and assess whether these factors are enough to fend off cheaper, faster payment rails, such as stablecoins. They walk through the company’s unit economics and what the valuation model implies under both steady-state and high-growth scenarios. Along the way, they compare Remitly’s customer lock-in strategy to Booking.com, examine the remittance corridor dynamics in India, the Philippines, and Latin America, and debate whether this is a misunderstood fintech with enduring staying power or a product ripe for crypto disruption.




IN THIS EPISODE, YOU’LL LEARN


00:00 – Intro


01:08 – How the remittance market works


01:50 – Why Western Union struggles to compete with Remitly


02:16 – Why and how Remitly was founded


04:48 – What risks Remitly faces


05:01 – How stablecoins could disrupt the remittance industry


11:34 – What competitive advantages Remitly has


17:16 – What digital-first companies compete with Remitly


24:37 – Why scale is everything in the payments sector


27:56 – Whether Remitly is attractively valued at its current levels


29:27 – Whether Shawn & Daniel add RELY to The Intrinsic Value Portfolio




*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.




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TIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O’Malley

TIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O’Malley

The Investor's Podcast Network