TransferWise poised to recapture title of Europe’s most valuable fintech with $4bn valuation

By Oliver Smith on Tuesday 2 April 2019

Digital Banking

The international transfer giant is reportedly chasing a $300m funding round with the help of Goldman Sachs.

TransferWise poised to recapture title of Europe’s most valuable fintech with $4bn valuation
Image source: TransferWise cofounders Taavet Hinrikus and CEO Kristo Kaarmann

Once named as Europe’s most valuable fintech as it crossed the $1bn mark back around 2015, TransferWise is set to seize the crown back from the likes of N26 ($2.7bn) and OakNorth ($2.8bn) whose funding rounds have eclipsed it in recent years.

According to Reuters the money transfer service founded by Taavet Hinrikus and CEO Kristo Kaarmann is working on a funding round of up to $300m which would value it at around $4bn.

Goldman Sachs is also said to have been appointed to organise the round.

If successful the round would see Kaarmann lead TransferWise to a valuation of more than double the $1.6bn it reached in its last funding round in 2017.

TransferWise launched back in 2011, around the same time as rivals WorldRemit and Azimo, to cut the costs of international money transfers.

In the last financial year to March 2018 TransferWise reported revenue of £117m, an operating profit of £9.5m and monthly transactions of more than $4bn a month.

Its existing investors, including Sir Richard Branson, Peter Thiel, Baillie Gifford and Andreessen Horowitz, have so far put over $480m into the business.

AltFi asked TransferWise about the reported funding round, but the company declined to comment.

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