Technology

TransferWise To Be The Most Valuable Fintech Start Up Company Of Europe

TransferWise is all set to be the most valuable Fintech start-up company of Europe with its new round investment. With the growth of the fintech company, it is now ready to take up big giants like Western Union and Money Gram and fully set to reach the value of 3.5 billion dollars, beating Digital Lender of Britain, OakNorth, who had a worth of 2.8 billion dollars. The company has now over 5 million customers throughout the world and in the fiscal year 2018, the company ended with a net profit of 7.9 million dollars.

As per the latest declaration from the Hinrikus, the company is now signing up with 10 thousand new business customers every month and has been procession 5.2 billion dollars in their monthly transaction balance sheet. The company also declared that they are now having 1600 staffs around the world and in the coming year they are going to recruit another 750.

In the present round, as per the declaration of Hinrikus, Vitruvian Partners and Lone Pine capital along with Lead edge capital have bought shares of the company. Along with those, the existing investors of the company Horowitz and Gifford increased their shares with the company. This crossed the second round investment of the company which was around 292 million dollars even. with this round of investment, the company is now at the op among the fintech startups of entire Europe.

In the last two years, the company has shown a trend of earning a yearly profit of around 6-7 million dollars and with this year’s third round investment, the company is now one of the startup giants, especially in the field of financial technological applications.

About the author

Joe Holmberg

Joe Holmberg

Joe is an expertise in the field of Technology. He owns a Master’s Degree in Computer Science and Technology. He has been involved in the creation and administration of computational systems from last 5 years. “Latest gadgets” is the area of his interest that has connected him with Lincoln Trail Publishing. When he gets free time, he loves to surf the Internet and research on the trending gadgets in the market.

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