TransferWise reportedly appoints Goldman Sachs and Morgan Stanley to steer it through LSE float

By Aisling Finn on Friday 22 January 2021

Digital Banking

The fintech was first reported to be looking for bankers to help guide it through the process in December 2020. 

TransferWise reportedly appoints Goldman Sachs and Morgan Stanley to steer it through LSE float
Image source: TransferWise co-founders Taavet Hinrikus and Kristo Käärmann/TransferWise

TransferWise’s IPO bid has reportedly taken a step in the right direction, with the fintech said to have named Wall Street giants Goldman Sachs and Morgan Stanley as coordinators of its IPO.

The fintech, which is expected to float on the London Stock Exchange later on this year, allegedly appointed the two banks to help it spur on its IPO efforts after reportedly gearing up to float late last year.

After nearly a decade on the fintech scene, TransferWise has become one of the most well-known and biggest fintechs in the World.

The fintech processed £42bn worth of cross-currency transfers last year for its eight million customers worldwide and today is handling over £4bn in those transfers every month.

TransferWise was also one of the first fintechs to turn a profit, marking its fourth year of being profitable last year as well as nearly doubling its revenues in 2020.

Following a $319m secondary share sale in July 2020, TransferWise saw its valuation jump to $5bn, placing it in the top five of the highest-valued fintechs in Europe.

TransferWise’s float will make it one of the first of the fintech giants to go public, following in the footsteps of the likes of Funding Circle and Augmentum Fintech, with others planning to float in the not-too-distant future, such as Starling, which is heading for a 2023 IPO, and PensionBee, which announced its intention to list on the LSE late last year. 

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