TransferWise raised $290 million through a secondary share sale that will allow the company's founders and early employees to cash out
Money transfer platform TransferWise announced on Wednesday that it has raised an additional $292 million through a secondary share sale at a valuation of $3.5 billion, making it the most valuable fintech startup in Europe.
TransferWise now has 5 million customers worldwide and it's processing $5 billion of money orders every month. The company, which employs 1,600 people across 12 offices, claims that it saves customers £1 billion every year in banking fees. Kristo Käärmann, CEO and cofounder of TransferWise, said in a statement:"We don’t need to raise funds to continue on this trajectory, but were humbled by the persistent level of interest in joining our mission. The round provides a way for these investors to buy in, alongside rewarding some of the earliest contributors who’ve been with us since the beginning."
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