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TransferWise Raises $280 Million to Fund Expansion in Asia

  • Old Mutual, IVP lead investment round in London fintech
  • Company now valued at $1.6 billion, source familiar said
Taavet Hinrikus

Taavet Hinrikus

Photographer: Simon Dawson/Bloomberg

TransferWise Ltd., one of Europe’s largest financial technology startups, has raised an additional $280 million to fund its continued expansion, including a big push into Asian markets.

U.S. asset management company Old Mutual Global Investors and Silicon Valley venture capital firm IVP led the investment round in the London-based international money transfer company. This is only the second time OMGI has ever made an equity investment in a private company. In August it invested 125 million pounds ($165.7 million) in U.K. online health and beauty retailer The Hut Group.