TransferWise reportedly worth £4bn

July 08, 2020 | Money Transfer

Written by FinTech Alliance

TransferWise reportedly worth £4bn

TransferWise is reaching £4bn valuation as it closes it secondary share sale.

In Brief:

  • The £240mn sale allows employees and early investors to cash out part of their holdings in the company.

  • The $4bn valuation will be a 30% increase from May 2019 – the FinTech’s last funding round.

  • So far primary and secondary funding raised totals $689mn.


What does this mean?

TransferWise is growing its business from just a payments provider to offering banking services to customer – for example just last week it announced it would add retail investment services so that customers can start to earn a return on their money.

It is not yet known who the new backers are in this deal, but it is expected to close this week.

Read more here.

 

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