The Mitsui and Virgin-backed money transfer service more than doubled its valuation to $3.5bn in a round that involved existing backers selling shares.
Institutional investors have bought $292m of shares in TransferWise, the UK-based cross-border financial transfer service backed by conglomerate Mitsui, at a $3.5bn valuation, CNBC reported today.
Investment firm Vitruvian Partners, investment manager Lone Pine Capital, venture capital firm Lead Edge Capital and funds managed by investment manager BlackRock bought shares in TransferWise while existing backers Andreessen Horowitz and Baillie Gifford increased their stakes.
The sellers were early investors and employees, but their identities were not disclosed by the company. The…
