London FinTech TransferWise is now valued at $5bn following completion of a $319m secondary share sale led by new investor D1 Capital Partners and existing shareholder Lone Pine Capital.
Existing shareholders Baillie Gifford, Fidelity International and LocalGlobe all increased their holdings in the company.
Founded in 2011 by Taavet Hinrikus and Kristo K盲盲rmann, the firm now allows its 8 millions users to move money across borders at competitive prices, resulting in around 拢4 billion ($5.2 billion) cross-border payments each month.
The valuation is a quick leap from last year’s $3.5bn, part of a $292m secondary round.
Kristo K盲盲rmann, CEO and co-founder, TransferWise said: 鈥淭here鈥檚 lots of talk about unicorns, but in reality, we鈥檙e building something even more rare.聽TransferWise聽is a fast-growing, profitable business, guided by a mission to build the best way to move money in the world – instant, convenient, transparent and eventually free.鈥�
鈥淲e鈥檝e been funded exclusively by our customers for the last few years and we didn鈥檛 need to raise external funding for the company.
“This secondary round provides an opportunity for new investors to come in, alongside rewarding the investors and employees who鈥檝e helped us succeed so far鈥�.