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Wise (TransferWise)

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Payments

Wise Posts 57% Profit Jump as Customer Base Expands Beyond 11 Million

  • The fintech reports strong H1 FY25 results with 19% revenue growth and a 57% increase in underlying profit.
  • It also reduced transfer costs for customers and achieved a 63% instant payment completion rate.
Wednesday, 06/11/2024 | 07:36 GMT by Damian Chmiel
FinTech

Wise Disrupts Banks’ Remittance Monopoly: Now Becomes Standard Chartered's Partner

  • The bank will integrate Wise’s infrastructure through API.
  • It will allow SC Remit customers in Asia and the Middle East to send money in 21 currencies.
Tuesday, 05/11/2024 | 06:57 GMT by Arnab Shome
Payments

“Careless Rather Than Deliberate or Reckless” Approach Cost Wise CEO Another +£350K Fine

  • Kristo Käärmann faces an FCA penalty for failing to disclose his deliberate tax default status.
  • The regulatory action follows his failure to report a £720,425 capital gains tax liability.
Monday, 28/10/2024 | 07:33 GMT by Damian Chmiel
Payments

Wise Q2 Update: Active Users Hit 8.9M, Volume Reaches £35.2B

  • The company reported results with a 23% increase in active customers and a 20% growth in cross-border volume.
  • It also reduced fees while maintaining 17% revenue growth and its full-year outlook.
Tuesday, 15/10/2024 | 06:50 GMT by Damian Chmiel
Payments

Wise Joins AbbeyCross to Improve Connectivity and Rates in FX Payments

  • Wise Platform enables cross-border payments in over 40 currencies and 160 countries.
  • The ABX Platform gives clients single-integration access to multiple FX payment providers.
Tuesday, 10/09/2024 | 09:47 GMT by Tareq Sikder
FinTech

India’s $32 Billion Remittance Market Attracts Wise as It Lifts Transaction Cap

  • The Reserve Bank of India has granted Wise a new license, allowing higher remittance limits.
  • India’s $7 trillion digital payments market by 2030 drives fintechs to navigate complex regulations.
Monday, 12/08/2024 | 05:10 GMT by Tareq Sikder
Payments

Wise Projects 15–20% Income Growth for FY25 amid Strong First Quarter

  • Cross-border payments company sees 18% volume increase and 22% underlying income growth.
  • On top of that, the number of active customers rose 26% compared to the Q1 last year.
Tuesday, 16/07/2024 | 06:49 GMT by Damian Chmiel
Payments

Wise Partners with Qonto to Smooth Out Cross-Border Transactions

  • Qonto customers can now send money to 24 currencies across 130 countries with enhanced tracking.
  • Wise Platform will be integrated into Qonto’s, using the mid-market exchange rate without hidden fees.
Wednesday, 26/06/2024 | 11:09 GMT by Tareq Sikder
FinTech

Wise’s FY24 Profit Jumps 212%: Active Customers Hit 12.8 Million

  • The platform netted £354.6 million in profits in the year.
  • Europe was its largest revenue generator, with £323.9 million.
Thursday, 13/06/2024 | 07:26 GMT by Arnab Shome
Payments

Wise Increases Active User Base by 29% to 8 Million

  • Financial performance was strong with 36% income growth.
Tuesday, 16/04/2024 | 06:37 GMT by Damian Chmiel
FinTech

Nubank Teams Up with Wise to Expand International Financial Offerings

  • Wise Platform has 85 global partners including Bank Mandiri, Shinhan Bank and Google Pay.
  • Nubank has over 90 million customers in South America, with 85 million in Brazil.
Monday, 08/04/2024 | 15:27 GMT by Tareq Sikder
Executive Moves

Wise Taps Delivery Hero’s Executive for the CFO Role

  • Emmanuel Thomassin will join the fintech on 1 October 2024.
  • He will be the permanent replacement of Matthew Briers who stepped down recently.
Monday, 25/03/2024 | 08:11 GMT by Arnab Shome
FinTech

Wise’s Growth Continues in Q3 FY24: Income Jumps 40%

  • The platform generated a quarterly revenue of £276.6 million.
  • It upgraded its annual income growth guidance to 42-44 percent.
Tuesday, 16/01/2024 | 07:54 GMT by Arnab Shome
FinTech

H1 Performance of Wise: EBITDA Jumps 163%, Outlook Remains Bullish

  • The EBITDA margin of the company improved to 36.7 percent.
  • It is expecting an annual income growth between 33 and 38 percent.
Tuesday, 14/11/2023 | 08:19 GMT by Arnab Shome
Payments

Wise Elevates FY24 Outlook amid Q2 Figures: Revenue, Volume Rise

  • The company ended the quarter with a revenue of £258.7 million.
  • It is now expecting a higher profit margin for FY24 than expected.
Thursday, 12/10/2023 | 07:31 GMT by Arnab Shome
Executives

"Payment and Investment Firms Are Well-Suited Towards a Mutual Goal": Wise Platform Head

  • Wise has partnered with multiple brokers, including IBKR, to facilitate payments.
  • The platform ensures faster and more cost-effective transfers.
Thursday, 24/08/2023 | 08:24 GMT by Arnab Shome
FinTech

Wise Reports 33% Jump in Active Customer Base to 6.7 Million

  • The cross-border payments firm reported a revenue increase of 29%
  • In addition, Wise elevated its volume to £28.2 billion.
Tuesday, 18/07/2023 | 07:14 GMT by Damian Chmiel
FinTech

Wise Reports 34% Surge in Active Clients as Gross Profit Rises by 234%

  • The surge in active users was fueled by high retention and word of mouth.
  • The company forecasts further growth of between 28 and 33% next year.
Tuesday, 27/06/2023 | 07:07 GMT by Damian Chmiel
Executive Moves

Wise CFO Matthew Briers to Step Down by March 2024

  • He was involved in an accident last year.
  • The company will start to look for his replacement immediately.
Monday, 22/05/2023 | 07:30 GMT by Arnab Shome
FinTech

Wise Ends Q4 FY23 with a 45% YoY Revenue Jump

  • It had 6.1 million active customers at the end of the quarter.
  • It now offers some return on held cash to Europe and US customers.
Tuesday, 18/04/2023 | 08:20 GMT by Arnab Shome
Retail FX

'Pay with Wise' Now Available on Interactive Brokers Platform

  • Transfers from Wise Balance are subject to a small fixed fee.
  • IBKR notes that it receives 5.5% of the 'transfer fee' collected and remitted by Wise.
Wednesday, 05/04/2023 | 11:59 GMT by Damian Chmiel
FinTech

Startup Atlantic Money Accuses UK Fintech Wise of Targeting Its Business

  • Wise runs currency transfer sites such as Exiap, Geldtransfer and Currencyshop.
  • The London-based company says it is not afraid of listing cheaper competitors.
Friday, 27/01/2023 | 14:17 GMT by Solomon Oladipupo
FinTech

Wise Reports 80% Income Jump and Record User Base in Q3 FY23

  • The total income rose to £268.7 million from £149 million reported last year.
  • Wise upgrades its guidance for FY23, forecasting total income to be 68-72% higher.
Tuesday, 17/01/2023 | 10:31 GMT by Damian Chmiel
FinTech

Wise's H1 FY23 Income Jumps 63%

  • The revenue of the company increased by 55 percent in the period.
  • The number of active customers has jumped significantly.
Tuesday, 29/11/2022 | 09:14 GMT by Arnab Shome
FinTech

Wise Introduces Intermediary SWIFT Connection Service for Neobanks

  • The new platform has gone live.
  • The service is also beneficial to established banks, Wise says.
Monday, 12/09/2022 | 16:53 GMT by Solomon Oladipupo
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