Finance Breaking news TransferWise enlists Goldman and Morgan Stanley for IPO - Sky News last financial news
Breaking-Finance.Com - Online money transfer unicorn TransferWise has appointed Goldman Sachs and Morgan Stanley to co-ordinate a planned initial public offering in London later this year, according to Sky News.
Breaking-Finance.Com - Online money transfer unicorn TransferWise has appointed Goldman Sachs and Morgan Stanley to co-ordinate a planned initial public offering in London later this year, according to Sky News. The Wall Street giants were brought in this week, says Sky, adding that the timing and venue of the float have yet to be finalised. The IPO would expect to value TransferWise well above the $5 billion valuation it secured in a funding round last July. Richard Branson and Peter Thiel were among the firm's early backers. British prime minister Boris Johnson and chancellor Rishi Sunak are reported to have talked to the company - along with Revolut and Deliveroo - last month about plans for a London listing. Launched a decade ago as a cheap alternative to costly bank currency transfer fees, TransferWise now serves millions of customers and has diversified to become one of Europe's top fintech players.
.6 million for the year to March 31 2020, doubling profits from £10.1 million to £20.4 million.
In December it outlined plans to add 750 jobs over the next six months, equivalent to more than a third of its current workforce of 2200.
Initially pitching itself as a scrappy upstart rival to banks, it has more recently looked to forge partnerships with traditional lenders through TransferWise for Banks. But it is also seeing some banks fight back, with both Santander and HSBC stepping onto its turf.
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