Mitsui and Virgin-backed remittance service TransferWise has bolstered its valuation to $5bn, up from $3.5bn, through a $319m secondary share sale.

TransferWise, a UK-based cross-border financial transfer service backed by corporates Mitsui and Virgin, has increased its valuation to $5bn through a $319m secondary transaction, TechCrunch reported yesterday.

D1 Capital Partners and Vulcan Capital bought into the company through the transaction, while Lone Pine Capital, Baillie Gifford, Fidelity and LocalGlobe increased their existing shareholding. The company did not name any investors that chose to sell stock.

Founded in 2010, TransferWise’s core product is an international remittance service with low fees. The…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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