Total amount raised
$1.7 Billions
Latest funding date
10/1/2022
Location
Wise has successfully raised significant funding through multiple rounds, including a notable Post-IPO Debt round in October 2022. The company offers a range of financial services, such as international money transfers and multi-currency accounts, designed to make global transactions seamless and cost-effective.
Keep reading to delve into the details of Wise's funding journey and discover the key investors who have backed this innovative financial technology platform.
What Is Wise?
Wise, founded in 2011 by Kristo Kaarmann and Taavet Hinrikus, is a financial technology company based in London, England. The company specializes in providing low-cost, fast international money transfers and multi-currency accounts.
With a workforce of 1001-5000 employees, Wise aims to make global transactions seamless and cost-effective. Their services cater to both personal and business customers, offering features like automated identification verification and online technical assistance.
Wise's mission is to offer transparent and affordable financial services, helping users manage their money across borders efficiently. The company continues to innovate, ensuring that their customers can move money securely and predictably.
How Much Funding Has Wise Raised?
- Post-IPO Debt
- Amount Raised: £300M
- Date: October 2022
- Lead Investors: Silicon Valley Bank UK
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To extend the line of credit and support Wise's growth plans.
- Debt Financing
- Amount Raised: £160M
- Date: May 2021
- Lead Investors: Silicon Valley Bank UK
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Secondary Market
- Amount Raised: $319M
- Date: July 2020
- Lead Investors: D1 Capital Partners, Lone Pine Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: $292M
- Date: May 2019
- Lead Investors: Lead Edge Capital, Lone Pine Capital, Vitruvian Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Debt Financing
- Amount Raised: £65M
- Date: November 2018
- Lead Investors: JP Morgan, LHV Group, NatWest Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Series E
- Amount Raised: $280M
- Date: November 2017
- Lead Investors: IVP, Merian Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance financial technology services.
- Series D
- Amount Raised: $26M
- Date: May 2016
- Lead Investors: Baillie Gifford
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Series C
- Amount Raised: $58M
- Date: January 2015
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance financial technology services.
- Non-Equity Assistance
- Amount Raised: -
- Date: December 2014
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Series B
- Amount Raised: $25M
- Date: June 2014
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
Wise has raised a total of $1.52 billion in funding. The current valuation is $11 billion.
Key Investors
- Silicon Valley Bank UK
- Details: Silicon Valley Bank UK is a financial institution that provides various banking services, particularly to technology and life sciences companies. They have a long-standing relationship with Wise, having participated in multiple funding rounds.
- Investment Focus Areas: Technology, life sciences, innovation sectors.
- Notable Investments: Not explicitly mentioned.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that manages capital for institutional investors. They focus on a broad range of sectors and have been involved in significant funding rounds for Wise.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: SpaceX, Stripe, Instacart.
- Lone Pine Capital
- Details: Lone Pine Capital is a hedge fund that invests in public and private markets globally. They have been key investors in Wise's secondary market rounds.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Amazon, Google, Shopify.
- Lead Edge Capital
- Details: Lead Edge Capital is a growth equity firm that partners with world-class entrepreneurs and exceptional management teams. They have invested in Wise to support its growth and expansion.
- Investment Focus Areas: Software, internet, consumer sectors.
- Notable Investments: Alibaba, Spotify, Uber.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital and growth equity firm. They have a history of investing in high-growth companies and were key investors in Wise's Series E round.
- Investment Focus Areas: Technology, internet, digital media.
- Notable Investments: Twitter, Dropbox, Snap.
What's Next for Wise?
Wise is poised to leverage its recent £300 million debt facility from Silicon Valley Bank to expand its services and improve payment efficiency for a growing customer base. This significant funding opens doors to enhance their technology, making international money transfers faster and more cost-effective.
Future fundraising opportunities seem promising, given Wise's strong relationships with financial institutions. However, regulatory scrutiny, such as the Financial Conduct Authority's investigation into the CEO, poses a challenge. Navigating these regulatory landscapes while effectively utilizing the influx of capital will be crucial for Wise's sustainable growth.
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