TransferWise Reportedly Valued At $1.1B With $26M Funding

TransferWise

TransferWise Reportedly Valued At $1.1B With $26M Funding by PitchBook

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:

  • April 2012: $1.3M seed | $5.15M valuation
  • May 2013: $6M Series A | $23.2M valuation
  • June 2014: $15.4M Series B | $157.9M valuation
  • January 2015: $58.5M Series C | $740M valuation
  • May 2016: $26M Late Stage | $1.1B valuation

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Sheeraz Raza
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