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