Remitly has delivered strong growth since its IPO, but the stock has fallen. Remitly went public in 2021, and the stock has mostly struggled since then despite delivering consistently strong growth. A combination of slowing revenue growth, concerns about stricter immigration policy in the U.S., and minimal profits has weighed on the stock, even though management seems to be executing on its goals. Remitly currently has a market cap of just $2.9 billion, meaning the stock trades at just 5 times its EBITDA forecast for 2028. With strong revenue growth, a low valuation, and new products like Remitly One, the fintech stock looks too cheap to ignore.