Proof of Usefulness Report

Remitly Global

Analysis completed on 1/29/2026

+709
Proof of Usefulness Score
Category Standard

Remitly is a publicly traded, global fintech company with verified billions in market capitalization and a massive user base. While the project itself has exceptional real-world utility, audience reach, and traction, the submission provided was low-quality (vague claims like 'everyone' and 'most people'). The score reflects the undeniable success and scale of the platform (mapped to the 700+ range for major scale enterprises), adjusted downward slightly for the lack of effort in the submission response.

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Score Breakdown

Real World Utility+23.75
Audience Reach Impact+15.20
Technical Innovation+11.25
Evidence Of Traction+24.50
Market Timing Relevance+8.50
Functional Completeness+0.25
Subtotal+834.5
Usefulness Multiplierx0.85
Final Score+709

Project Details

Project URL
remitly.com
Description
Remitly Global, operating through its domain remitly.com, is a financial technology company that specializes in providing international money transfer services. Founded in 2011, Remitly aims to simplify the process of sending money across borders, offering a secure, fast, and affordable way for individuals to send remittances to family and friends in other countries. The company leverages digital technology to offer a user-friendly platform accessible via mobile apps and the web, allowing customers to track their transfers in real-time. Remitly is committed to enhancing the remittance experience by providing competitive exchange rates, low fees, and a reliable service that prioritizes customer satisfaction.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline