Founded back in 2011 in the UK, TransferWise currently has 14 offices across the globe. This is an online platform that helps people around the world send money as quickly as possible and with minimum fees. The company supports most world’s currencies, constantly adding some new ones to the list.
Back in May 2020, TransferWise denied launching an IPO, aiming for a resale with a minimum value of $3.50B. It raised over $292M in 2020, the total amount reaching $689M.
It was in December 2020, however, when TransferWise announced its possible IPO, which is scheduled for 2021. The IPO is likely to take place in the LSE, which would be beneficial both to the company and to the stock exchange.
Pre-IPO Financial Performance
The number of TransferWise customers has exceeded 10M, while the total amount of transactions per month is over $6B. The customer satisfaction level is high, as, according to the TransferWise official website, people save over $1.50B annually on hidden fees.
In July 2020, the company was already valued at $5B. Some insider sources report that, after announcing the IPO, TransferWise may beat these results even before the new funds get involved.
TransferWise has always strived to become a banking structure, which would be able to compete with Starling, Monzo, or Revolut. This is where the IPO decision comes from. In February 2021, it is also putting the final touch; however, the exact date has not been yet announced.
IPO Outlook and Target Market
Fort Ross Ventures experts say that TransferWise IPO has a great potential. In a single year, the number of customers increased by 2M, from 5M in 2019 to 7M in 2020, including 107,000 new enterprise customers. The net profit is also rising heavily due to the pandemic, in 2020 it doubled and amounted to £20.40M against £10.10M in 2019.
TransferWise yearly report released for 2020 says it issued 35.66M shares, 4.88M (13.70%) and 7.18M (20.10%) of them being owned by the co-founders, Taavet Hinrikus and Kristo Käärmann, respectively.
Please note that TransferWise currently is a private company and cannot be invested in by members of the public. You may however register your interest and we will notify you when a security prospectus becomes available and the opportunity to invest arises.