TransferWise reportedly valued at $1.1B with $26M funding
May 26, 2016
In 2015, it was commonplace for companies to raise enormous funding rounds in the pursuit of unicorn-level valuations—even when they didn't need the capital. That makes TransferWise's recent financing all the more intriguing. The company, which offers money-transfer services, reportedly received a $1.1 billion valuation (its first above $1 billion) from an investment of just $26 million led by Baillie Gifford.
TransferWise's service allows users to send money overseas for a lower cost than through a bank or money-wiring service. The company uses the real exchange rate (mid-market rate) between currencies, rather than setting its own rate as banks do. Its service is currently available in more than 50 countries in over 500 currency routes.
Here’s a look at TransferWise's funding and valuation history, sourced from the PitchBook Platform: