UK FinTech TransferWise is now worth $5bn following a secondary share sale.
In Brief:
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It completed a $319mn secondary share sale this week.
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The sale was led by D1 Capital Partners and Lone Pina Capital.
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Shares were sold by employees and other existing shareholders.
What does this mean?
The uptake of the share sale shows that enthusiasm for FinTech payment solutions is still there despite Covid-19 uncertainty. TransferWise’s new valuation is up from $3.5bn just last year.
