Сompany TransferWise with an office in Cherkasy raises $292M at a valuation of $3.5B

TransferWise, the operator of the same name international money transfer service, announced about raising of $292 million at a valuation of $3.5 billion. Thus, it is one of the most valuable private companies in Europe, Quartz reports.

• Investors include Lead Edge Capital, Lone Pine Capital, and Vitruvian Partners. The company noted that the new round allowed current shareholders (most of whom are employees), as well as early investors, to sell their shares. In addition, TransferWise has attracted new investors, including BlackRock, the world’s largest asset operator, which has financial resources, experience, and connections around the world.
• TransferWise is a money transfer service launched in 2011. The company says it serves 5 million customers worldwide, processing transactions for £4 billion (more than $5 billion). TransferWise employs more than 1,600 people in twelve offices around the world, including Cherkasy.
• Management stresses that the company has been profitable for more than two years. At the end of the last fiscal year, which ended in March 2018, TransferWise net income was £6.2 million (more than $7.8 million).