TransferWise in $280m series-E

The round was led by Silicon Valley venture firm IVP and asset manager Old Mutual Global Investors. They were joined by Sapphire Ventures, World Innovation Lab and Mistui & Co. Existing investors Richard Branson, Andreessen Horowitz and Baillie Gifford also participated.

With this latest round, TransferWise has raised a total of $397m. The deal values the company at $1.6bn, according to reports, with both founders expected to offload some of their shareholding.

Previous funding
Index Ventures, IA, Kima and Seedcamp invested $1.3m in the first round of funding for TransferWise in April 2012. The following year, Valar led a $6m series-B round for the company, with Index and Kima also taking part in the round. In June 2014, Index, IA and Kima took part in a $25m round for TransferWise.

Andreessen Horowitz led a $58m series-C round in January 2015, with the aim of boosting its international expansion.

Company
Founded in 2011, TransferWise is a London-based international money transfer service. It was developed by the founders of Skype and PayPal, and its technology is intended to remove fees that it says have traditionally been hidden in exchange rates.

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• Topics
• Expansion
• Financials
• UK / Ireland
• United Kingdom
• Venture
• Kima Ventures