Ultrafast interaction between the femtosecond laser pulse and the magnetic metal provides an efficient way to manipulate the magnetic states of matter. Numerous experimental advancements have been made on multilayer metallic films in the last two decades. However, the underlying physics remains unclear. Here, relying on an efficient ab initio spin dynamics simulation algorithm, we revealed the physics that can unify the progress in different experiments. We found that light-induced ultrafast spin transport in multilayer metallic films originates from the sp-d spin-exchange interaction, which can induce an ultrafast, large, and pure spin current from ferromagnetic metal to nonmagnetic metal without charge carrier transport. The resulting trends of spin demagnetization and spin flow are consistent with most experiments. It can explain a variety of ultrafast light-spin manipulation experiments with different systems and different pump-probe technologies, covering a wide range of work in this field.