R emitly, a financial technology company that lets consumers in places like the U.S. and Canada send money home to countries like Mexico and the Philippines, may finally be seeing the effects of President Trump’s immigration crackdown on its business.
The 14-year-old Seattle business announced its third quarter financial results yesterday, and a couple of metrics rattled investors, sending the stock down 24% today and shrinking its market value to $2.6 billion.
Chief financial officer Vikas Mehta said the company expects revenue in the fourth quarter to reach about $427 million, representing growth of about 22%. In 2026, sales growth will be…
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