by lowering fees and adding a slick online platform to help consumers move money across borders. It now has a total of 8 million customers globally and processes £4 billion in cross-border payments each month.
The London-headquartered money transfer firm hasn't added any fresh cash to its balance sheet with this deal, instead opting to give employees and early investors the chance to sell some of their stakes in a $319 million secondary deal. It's not the first time existing investors have sold shares — the company was valued at $3.
Unlike many of its rival fintech unicorns — Revolut, Monzo and N26, to name a few — TransferWise is profitable. Kaarmann recently told CNBC that the firm expects to turn an annual profit again in its 2020 accounts. The company has been profitable for three years running, but a big selling point of its multi-currency card is the ability to convert to local currencies when travelling.
Kaarmann and fellow co-founder Taavet Hinrikus both had the option to sell shares in this round, though TransferWise declined to disclose how much they sold. TransferWise says share sales were settled internally, rather than through an investment bank like
quasagroup Their service is amazing.
Normal service is resumed in your permabubble
Hmmmmm
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Los Angeles-To-Las Vegas High-Speed Train Wins $200 Million Nevada Bond AllocationXpressWest, a high-speed rail line that will connect Southern California to Las Vegas, won $200 million of private activity bonds from Nevada XpressWest is President West’s first major achievement. Congrats kanyewest ! Wow, this go hard. Thanks for sharing. Nah it won't get built as the Chinese won't give the parts to make it
Source: Forbes - 🏆 394. / 53 Read more »
7 Bath & Body Works Goodies I’m Buying During the Huge Semi-Annual Sale7 bathbodyworks goodies I’m buying during the huge semi-annual sale.
Source: StyleCaster - 🏆 104. / 63 Read more »
Language exchange app Tandem raises $5 million in funding - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Drew & Brittany Brees Donate $5 Mil To Build Healthcare Centers In LouisianaDrew Brees and his wife, Brittany, are making another HUGE donation to help Louisiana during the COVID-19 pandemic -- donating $5 MILLION to build healthcare facilities throughout the state. Doesn’t fix shit... we still don’t fuck with him anymore. where the racist cash flows... attention goes Drew Brees show’s up to camp with the B-Rabbit cut
Source: TMZ - 🏆 379. / 59 Read more »
Ro, a 3-year-old online health provider, is valued at $1.5 billion and claims $250 million a year in salesRo, a 3-year-old online health provider, claims $1.5 billion valuation with $250 million in annual sales Dude looks pretty stout for a 3 year old 3 years old, big turnover and not profitable.. where have I heard this before...? 🤔 Since this was obviously named after me, I’m going to need a cut of that money, zreitano.
Source: CNBC - 🏆 12. / 72 Read more »
When the Entanglement Ends'I wasn’t looking for a threesome—I didn’t even consider myself to be bisexual at the time—but I was open to anything. ' Will, Jada, and August Alsina inspire one author to reflect on her own summer of being a 'unicorn.'
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »