Value of TransferWise may exceed $1 billion as its founders plan to sell a part of the stake

31 October 2017

TransferWiseFounders of TransferWise, a London-based International money transfer service, plan to put on sale a part of their shares in their company as they seek to obtain additional financing that could bring the fintech startup to the level of tech unicorns, a term used to denote startup companies valued at over $1 billion.

The new funding round, where Kristo Kaarmann and Taavet Hinrikus would sell some minor portions of their 40% stake in the money transfer firm, may result in its value rise to £1.2 billion ($1.6 billion). To date the company has successfully conducted a number of funding sessions raising more than $100 million from venture capital companies such as Baillie Gifford, and investors like Valar Ventures and Andreessen Horowitz.

TransferWise has been shown a keen interest on the part of one major US investor, IVP. The two companies were in negotiations about possible multi-million stake that is, according to some estimates, likely to reach as much as $60 million. Apart from IVP, TransferWise also looks appealing for Old Mutual Global Investors, a London-based asset management firm.

This May the reports unveiled that TransferWise attracted 1 million customers and boasts to possess 10% share in the foreign remittances market of the United Kingdom.

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