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Subsequent Events | 12 Months Ended
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Dec. 31, 2022
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Increase of Authorized Shares Reserved for Issuance under Equity Plan In January 2023, there was an increase in the shares reserved for issuance under the 2021 Plan, in accordance with the 5% automatic increase provision, effective January 1, 2023. In January 2023, there was an increase in the shares reserved for issuance under the 2021 ESPP Plan, in accordance with the 1% automatic increase provision, effective January 1, 2023. Acquisition of Rewire Research and Development Ltd. The Company completed the acquisition of Rewire on January 5, 2023 as discussed in Part I, Item 1 of this Annual Report on Form 10-K. The preliminary acquisition date fair value of consideration transferred is approximately $77.0 million which includes the fair value of cash and equity issued, or to be issued, to selling shareholders. Approximately $12.0 million of these proceeds were held back at closing for any potential indemnity claims, which will be released after a 15-month holdback period, subject to any deductions, the majority of which will be settled in cash. Expected synergies from the acquisition include both revenue synergies, as a result of potential new customer acquisition, and cost synergies, in operating Rewire’s business leveraging Remitly’s global network. The Company recognized transaction costs of $3.5 million in the year ended December 31, 2022 for the acquisition of Rewire, which is included within ‘General and administrative expenses’ within the Consolidated Statements of Operations. The accounting for the business combination, including the final purchase price and the purchase price allocation, has not yet been completed, and as such, further disclosure has been omitted.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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