Transfer start-up in Europe’s top spot - News Summed Up

Transfer start-up in Europe’s top spot


Transferwise was set up by Taavet Hinrikus, left, and Kristo Kaarmann. It has become the most valuable financial technology start-up in Europe after a $300 million fundraisingA money transfer start-up has doubled its valuation to $3.5 billion after a funding round in which investors gave it almost $300 million in return for shares in the company. The fundraising means that Transferwise, which processes £4 billion a month for five million customers, has become the most valuable financial technology start-up in Europe. Its existing investors Baillie Gifford and Andreessen Horowitz also increased their holdings. Taavet Hinrikus, 37, and Kristo Kaarmann, 38, the company’s co-founders, also sold shares as part of the fundraising.


Source: The Times May 22, 2019 23:02 UTC



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