D1 invests in TransferWise

American hedge fund D1 Capital Partners has taken a stake in UK FinTech TransferWise.

In Brief:

• The news comes as TransferWise has been valued at $5bn.

• D1 is investing around $200mn as part of a secondary share sale.

• D1 will have around 4% of the business.

What does this mean?

D1 was set up two years ago and has stakes in large tech companies like Amazon, Facebook and Netflix. The transaction is said to come at a 30% premium compared with a similar transaction this time last year.

Read more here.