The cost of a fintech startup with an office in Cherkasy has grown to $ 5 billion
Private investors have rated TransferWise, which is based in London and has an office in Cherkasy, at $ 5 billion.
This is reported by TechCrunch.
The company’s valuation has risen 43% since May 2019, resulting in a $ 319 million resale.
In a secondary sale, current shareholders (including employees) can sell part of the shares to new and existing investors. No money is credited to TransferWise itself.
The leader in this round was D1 Capital Partners, and the current shareholder of the company, Lone Pine Capital, also participated. Vulcan Capital was also added to the investors, and existing investors Baillie Gifford and LocalGlobe increased their stakes.
TransferWise is not the most expensive privately owned fintech company in Europe. In front are Klarna and Revolut with an estimated $ 5.5 billion.
However, founded in 2010, TransferWise has been profitable since 2017, and founded in 2005, Klarna has been profitable pretty much from day one but reported its first losses last year. Revolut continues to be unprofitable but aims to achieve profitability by the end of this year.
TransferWise allows you to make international money transfers with much lower fees than banks. TransferWise serves 8,000,000 customers worldwide, processing around £ 4 billion per month using 2,500 currency routes and 54 currencies.
The company also recently announced new regulatory approvals for UK savings and investment options through its TransferWise account.
TransferWise was founded in 2011 by two Estonian immigrants Kristo Pocket and Taavet Hinrikus, but the first technical implementation of the service was carried out by Ukrainian Bogdan Danilyuk.
He founded one of the first startup offices – TransferWise’s Cherkasy department.
Source: epravda.com.ua
