Wise dials up Asia-Pacific ambitions with 150 new employees in Singapore

By Oliver Smith on Monday 21 February 2022

Digital Banking

Hunting for growth in the APAC region.

Wise dials up Asia-Pacific ambitions with 150 new employees in Singapore
Image source: Kristo Käärmann (right)/Wise.

Money transfer giant Wise is seeking growth in Asia-Pacific (APAC), with the announcement of 150 new hires at its Singapore office this year.

Engineering, product development, design, analytics, compliance and payments will be the bulk of its recruiting and is a result in Singapore becoming a larger APAC regional hub for the company.

“We've come a long way from the 1-man office we were when we first launched [in] the country 5 years ago,” said Kristo Käärmann, the CEO and co-founder of Wise.

“Our Singapore office has since grown into a key hub for us, and I’m delighted by the progress we’ve made in serving our customers both here in Singapore and across the region.”

Wise has been increasingly focusing on the APAC region, most recently launching transfers from India along with the Wise Account and debit card in Malaysia.

“As our APAC hub, Singapore serves as an important base for us as we continue to invest in making our mission, to make money work without borders, a reality for more people and businesses here and around the world.”

Last month Wise reported third-quarter revenues up year-on-year by 34 per cent and 13 per cent quarter-on-quarter to £149.8m.

However, the company has struggled to turn around market sentiment, which has seen its share price slump over 40 per cent since its IPO last July.

The fintech listed with its shares priced at 800p, but currently trades at a 52-week low of around 555p.

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.