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TransferWise, the UK-based fintech “Unicorn” has raised an additional $319m via a share sale by existing employees and investors.As a result of the move, the company co-founded by Taavet Hinrikus and CEO, Kristo Käärmann has secured a new valuation of $5bn.

This amounts to an uplift of 43% since May 2019. TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale. It has more than 8 million customers worldwide and processes £4 billion ($4.96 billion) in cross-border transactions every month. TransferWise founder and chief executive Kristo Kaarmann. Read more about This advertisement has not loaded yet, but your article continues below.In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.This advertisement has not loaded yet, but your article continues below.TransferWise completes $319 million secondary share sale at a $5 billion valuationTransferWise completes $319 million secondary share sale at a $5 billion valuationTransferWise completes $319 million secondary share sale at a $5 billion valuationTransferWise completes $319 million secondary share sale at a $5 billion valuation TransferWise has confirmed a secondary share sale raking in $319 million and valuing the money transfer unicorn at $5 billion. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. It has more than 8 million customers worldwide and processes £4 billion ($4.96 billion) in cross-border transactions every month. The company had been valued $3.5 billion in its last secondary raise in May 2019, it said. We ask you to keep your comments relevant and respectful. The company, which is based in London and has been in existence for almost a decade, said that it did not need to gain extra money from the share sale. Last month TransferWise said it has received permission from the UK’s financial watchdog to offer retail investment services in Britain. The company has been expanding beyond its core offering to a wider range of banking products. If you don't see it please check your junk folder.The next issue of Top Stories Newsletter will soon be in your inbox.We encountered an issue signing you up.
Vulcan Capital also joined, while Baillie Gifford, Fidelity Investments and LocalGlobe expanded their existing holdings, the company said. Please try againPostmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. TransferWise today announces secondary sales amounting to a total of $319 million at a new valuation of $5 billion. Founded in 2011, TransferWise is one of Europe’s best-known financial technology startups. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. TransferWise completes $319 million secondary share sale at a $5 billion valuation Back to video The round, which provides a way for existing backers to sell some shares and others to join or buy more, was led by existing investors Lone Pine Capital and new investors D1 Capital Partners, TransferWise said. TransferWise "shares the wealth" via secondary sale. The international money transfer institution TransferWise has been valued at $5bn after it held a secondary share sale, it has been confirmed. Comments may take up to an hour for moderation before appearing on the site. TransferWise is profitable and did not need new investment to grow but completed the secondary share sale in response to continued interest from both existing and new investors, said Chief Executive Kristo Käärmann. The round allowed shareholders and employees to sell some of their holdings to other new and existing investors. TransferWise, a London, UK-based money transfer company, announced a secondary sales amounting to a total of $319m at a new valuation of $5 billion. TransferWise, the online money transfer service startup, is now valued at $5 billion thanks to a secondary share sale as investors embrace online … The round, which provides a way for existing backers to sell some shares and others to join or buy more, was led by existing investors Lone Pine Capital and new investors D1 Capital Partners, TransferWise said.