Estonia-founded international money transfer company Transferwise has closed a secondary funding round of $292 million, or EUR 261.1 million. Investors used the Transferwise for Business platform when settling the financing.
Transferwise is now valued at $3.5 billion, and the latest funding round brings the total raised by the company in both primary and secondary funding thus far to $689 million.
The round was led by growth capital investors Lead Edge Capital, Lone Pine Capital and Vitruvian Partners, along with funds managed by Blackrock, Inc. and existing investors Baillie Gifford and Andreessen Horowitz.
“We don’t need to raise funds to continue on this trajectory, but we’re humbled by the persistent level of interest in joining our mission,” Transferwise co-founder and CEO Kristo Kaarmann explained. “The round provides a way for these investors to buy in, in addition to rewarding some of the earliest contributors who have been with us since the beginning.”
Founded by Estonians Kaarmann and Taavet Hinrikus in 2011, Transferwise is a financial technology firm offering customers a low-cost means of transferring money abroad. The company has over 5 million customers and transfers more than 4 billion GBP per month, according to the company. (ERR/Business World Magazine)
