19 June 2018
Visit www.avoka.com

TransferWise to sell new shares to cement unicorn status

31 October 2017  |  9264 views  |  0 Taavet Hinrikus, transferwise

The two founders of start-up foreign exchange service TransferWise are reported to be preparing a sale of some of their shares in a further round of fundraising that could see the company's valuation exceed £1.2 billion, consolidating its unicorn status.

According to Sky News, Kristo Kaarmann and Taavet Hinrikus are set to sell a small portion of their 40% stake in the company as part of a Series E funding round. 

Sky News has also reported that a small stake in TransferWise is set to change hands this week as part of an £18m deal involving venture capital firm Draper Esprit and investment funds from Seedcamp, an early-stage investor in multiple start-ups including TransferWise.

TransferWise latest fundraising efforts, which will target investors such as Old Mutual Global Investors and Silicon Valley-based IVP, will value the company at £1.2bn ($1.6 bn), exceeding the $1bn mark reserved for so-called 'unicorns'.

TransferWise has embarked on a series of capital raising ventures in the past that have secured more than $100m from the likes of venture capital funds  Baille Gifford, Valar Ventures and Andreessen Horowitz.

Attaining unicorn status is not TransferWise's only milestone acheived this year. In May, the company announced that it had been operating at a profit since the beginning of the year, six years after launching. 

 

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

TransferWise lines up investment round

TransferWise lines up investment round

21 August 2017  |  13673 views  |  0 comments | 10 tweets | 6 linkedin
TransferWise CEO Hinrikus steps aside for co-founder Käärmann

TransferWise CEO Hinrikus steps aside for co-founder Käärmann

18 July 2017  |  7802 views  |  0 comments | 3 tweets | 5 linkedin
Fintech unicorn Transferwise moves into the black

Fintech unicorn Transferwise moves into the black

17 May 2017  |  8554 views  |  0 comments | 25 tweets | 18 linkedin
Transferwise boss warns fintech startups against Brexit Britain

Transferwise boss warns fintech startups against Brexit Britain

12 April 2017  |  15000 views  |  6 comments | 15 tweets | 8 linkedin
TransferWise for Business launches

TransferWise for Business launches

16 August 2016  |  10948 views  |  1 comments | 17 tweets | 9 linkedin
TransferWise in talks with 'rip-off' banks over API embed

TransferWise in talks with 'rip-off' banks over API embed

22 December 2015  |  15591 views  |  0 comments | 22 tweets | 16 linkedin
TransferWise breaks £500 million per month milestone

TransferWise breaks £500 million per month milestone

08 June 2015  |  6988 views  |  0 comments | 11 tweets | 9 linkedin
TransferWise launches money transfer app

TransferWise launches money transfer app

23 October 2013  |  6230 views  |  0 comments | 5 tweets | 12 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit http://go.jumio.com/finextraAdVisit equensworldline.com

Who is commenting?

A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: Monzo launches bill tr...
A Finextra member Finextra Member Commented on: NatWest taps Open Bank...
A Finextra member Finextra Member Commented on: HSBC promises $17bn in...

Top topics

Most viewed Most shared
10,000 jobs could be lost to robots says Citi10,000 jobs could be lost to robots says C...
48820 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10630 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9471 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8399 views comments | 8 tweets | 21 linkedin
Live: EBAday2018, day oneLive: EBAday2018, day one
8251 views comments | 6 tweets | 5 linkedin

Featured job

Find your next job