Taavet Hinrikus, co-founder and chief executive officer of Transferwise, had expressed fears about the impact Brexit would have on technology businesses Simon Dawson/Getty ImagesOne of the world’s leading technology investors is poised to buy a stake in Transferwise in a deal expected to value the British online currency exchange business at more than £1 billion only seven years after it was created. IVP, a venture capital firm based in Silicon Valley which has backed Snapchat, Twitter and Netflix, is understood to be in advanced talks to invest tens of millions of pounds in Transferwise. The deal is expected to value it at more than £1 billion should it go through, reaffirming Transferwise’s “unicorn” status, the label bestowed on unlisted start-ups with a dollar price tag running into ten figures. Transferwise has received about £90 million in funding and its backers include Andreessen Horowitz, a venture capital firm that…

Source: The Times August 20, 2017 23:03 UTC