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The valuation of TransferWise went up to $3.5 billion after their second investment round of $292 million

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The valuation of TransferWise went up to $3.5 billion after their second investment round of $292 million

TransferWise, which is an international money transfer service and is headquartered in London is finally disclosing that they have successfully raised a total of $292 million in this round of investment. This round of investment for TransferWise has helped them put the valuation of the company at $3.5 billion. This valuation is almost double the valuation of the company since 2017. The funding has no new cash entering the balance sheet of TransferWise. This round of investment of TransferWise was led by Vitruvian Partners, Lone Pine Capitals and Lead Edge Capital.

The investors who already existed were Andreessen Horowitz and Baillie Gifford ended up expanding their holdings in TransferWise. TransferWise co-founder Taavet Hinrikus said that the round was oversubscribed. He is now trying to point out all the existing rounds along with Baillie Gifford and Horowitz.

The PO of the company is still far away. They are still saying that “Why would we go public?” TransferWise’s institutional investors are now trying to make sure of the liquidity event which will be on the scale of an IPO. As it has been already noted, they are purchasing more of shares in this company.

Hinrikus said that the regulatory climate will soon be changing in TransferWise’s favor. In the year of 2018, the EU ended up voting the outlawing of the whole mark up an exchange through the Cross Border Payment Regulations something that the London fintech company has been lobbying for the company. Australia is now considering all the similar regulatory means following all the inquiry in the whole issue by the Australian Competition and the Consumer Commission.

In the end, the company TransferWise said that it will now serve a total of 5 million customers in the whole worldwide. There was processing if 4 billion pounds every month. The service has currently supported by a total of 1,600 currency routes. This is now available 49 currencies. The company employs a total of 1,600 people all across the globe. It has a total of 12 global offices and it will end up hiring 750 people in the next 1 year. All the audited financials for the fiscal year ending by the month of March has revealed a total of 77 percent revenue. There is revenue growth of 177 million pounds and the net profit will be about 6.2 million pounds after all taxes.

Leon is a socialist and traveler. He is the Senior Writer at GadgetFreeks. He likes to purchase the latest gadget in the market and writes about tech as well as gadgets. He looks after the editing work of the whole blog.

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