By Oliver Smith on Tuesday 2 April 2019
The international transfer giant is reportedly chasing a $300m funding round with the help of Goldman Sachs.
Once named as Europe’s most valuable fintech as it crossed the $1bn mark back around 2015, TransferWise is set to seize the crown back from the likes of N26 ($2.7bn) and OakNorth ($2.8bn) whose funding rounds have eclipsed it in recent years.
Goldman Sachs is also said to have been appointed to organise the round.
If successful the round would see Kaarmann lead TransferWise to a valuation of more than double the $1.6bn it reached in its last funding round in 2017.
In the last financial year to March 2018 TransferWise reported revenue of £117m, an operating profit of £9.5m and monthly transactions of more than $4bn a month.
Its existing investors, including Sir Richard Branson, Peter Thiel, Baillie Gifford and Andreessen Horowitz, have so far put over $480m into the business.
AltFi asked TransferWise about the reported funding round, but the company declined to comment.