Deals
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
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
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.