Tag: TransferWise

The C19 pandemic apparently didn't hurt the FinTech hype. On the contrary, while Wise (formerly TransferWise), CoinBase, or eToro have IPO plans with billion-dollar valuations, Sky News reports today that UK FinTech unicorn Starling Bank has received £270M from new investors. Quite impressive, isn't it. Starling Bank will on Monday unveil the biggest fundraising in its seven-year history when it announces that it has secured more than £270m from investors, including one of the world's biggest wealth funds.

The German FinTech unicorn N26 evidently seems to be on an unstoppable growth trajectory despite high losses. N26 said net losses at its core European business came in at 110 million euros in 2020, down from €165M in 2018. N26 has plans to make acquisitions, hire more employees , and expand into Brazil.

TransferWise prepared for a blockbuster IPO and appointed the two Wall Street giants Goldman Sachs and Morgan Stanley as joint coordinators, Sky News reported last week. The surprising thing here is the decision in favor of a listing in London and against New York. This is certainly an important milestone for London to remain Europe's most important financial center after Brexit. The valuation for the IPO is expected to exceed $5 billion. And hey, they are profitable!

The global COVID-19 crisis is unlikely to prevent 2021 from being a promising year for stock markets and FinTechs. UK FinTech unicorn TransferWise is reportedly currently evaluating a billion-dollar blockbuster IPO for 2021 led by Goldman Sachs. The latter is also said to be evaluating an IPO of the Israeli FinTech unicorn eToro on Nasdaq at a $5 billion valuation, Israeli Calcalist reports. Allegedly, it has been valued at about $2.5 billion.

A battle is currently raging between the old central bank-controlled FIAT monetary system with the dollar as the reserve currency and the new decentralized cryptosystem. Quantitative easing policies in the wake of various crises in recent years cast doubt on the FIAT system's sustainability. 2020 was also the year institutional investors got into Bitcoin. In 2021, FinTech unicorn TransferWise is planning a billion-dollar IPO - a FinTech that rejects the cryptosystem.

The revised Payment Services Directive (PSD2) to regulate payment services throughout the EU and EEA came into force in January 2018 and officially kicked-off the “Open Banking Era” with FinTech unicorns TransferWise, Revolut, Monzo, or N26 leading the pack. The number of licensed PayTechs in the EEA exploded as a study published in July 2020 shows. Unfortunately, the number of unregulated and therefore unauthorized acting PayTechs specializing in scams and cybercrime also exploded.

The London-based fintech startup TransferWise, focused on international money transfer service, disclosed last week a new $292 million secondary...