TransferWise is closing in on a $300 million secondary share sale which values the money transfer startup at $5 billion, according to Sky News.
The secondary offering enables early investors to cash in their shares and is attracting interest from global investors, with a deal set to be completed this week, says Sky, citing insiders.
The raise would see TransferWise's valuation soar $1.5 billion in the little over a year since its last secondary share sale, which raised $292 million.
Pitched as a cheap alternative to costly bank currency transfer fees, TransferWise serves around eight million customers and employs more than 2000 people.
The unicorn has been steadily adding new products and services, and just last week secured approval from the FCA to offer investment services to customers of its borderless bank account.