This article includes a misleading comparison of "apples-and-oranges": you are stacking Remitly's margin for online channel in the world's top corridors with some global average. The later is the case for small destinations in Africa and not relevant for corridors likes USA to India, China, or Philippines. For those, online margins are 0-3%, and offline are 5-8% (the more is sent, the less expensive it is). For example, about 80% of money sent from USA to India is via online channel with the average margin of 1.5%. Remitly is not the cheapest provider in its two corridors (see attached image or check our site, https://www.SaveOnSend.com).

So why after seeing all those awful inefficiencies in AFRICA, Matt started another company in the world's top corridors where there is already plenty of competition and Remitly's presence, while always welcome, doesn't make much difference? It is simple: corridors in intra-Africa are tiny, typically $1-5MM; in comparison, two corridors that Remitly currently covers which are ~$10B each. And that is the reason why he is not in a rush to go back, not because of Somalia (there are lots more countries on that continent).

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