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British Unicorn TransferWise Rumored To Be Seeking IPO

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British Unicorn TransferWise Rumored To Be Seeking IPO

Sky News in the U.K. reports that it has "exclusive" information on an IPO for currency exchange fintech TransferWise.

What Happened: Sky News says the international payments company has asked bankers to give pitches next year for participating in an IPO. It should be noted though that the outlet did not name, or even describe, its sourcing for this news.

Sky News says the company is leaning toward listing in London. 

Why It Matters: TransferWise has quickly made a name for itself, challenging the clunky model of sending payments overseas. The process traditionally is slow and laden with fees. TransferWise says it saves customers $4 million in as it helps them move more than $6 billion every month.

The 10-year-old company is based in the city and counts Richard Branson, and PayPal founders Max Levchin and Peter Thiel among its investors.

It gained headlines last year as becoming Europe's most valuable private fintech, at a valuation of $3.5 billion.

Photo courtesy TransferWise.

 

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