View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 8, 2021

Payments firm Wise debuts on stock market at $11bn valuation

By Shalini mani

UK-based payments firm Wise, formerly known as TransferWise, has made its debut on the London Stock Exchange with a valuation of more than £8bn ($11 bn).

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The firm, which specialises in cross-border payments, opted to go public via a direct listing rather than an initial public offering (IPO).

Direct listing allows the company to start trading publicly without issuing new equity shares.

This form of flotation allows shareholders of the company to sell their existing shares to the public, without the usual lockup-period regulations associated with traditional IPOs.

Wise started trading on the stock exchange at £8 per share on Wednesday.

Besides, the company introduced a separate share incentive scheme called OwnWise that allows its customers to purchase stake in the firm.

Wise said that the scheme has been oversubscribed and the 125,000 applicants would be cut down to 100,000 by lottery.

Launched in 2011 by Taavet Hinrikus and Kristo Kaarmann, the firm helps people move money across borders and into different currencies more easily and at reduced rates.

In July last year, Wise confirmed a $5bn valuation after raking in $319m through a secondary share sale.

Recently, the firm expanded its footprint to India with the launch of foreign exchange service.

Last month, the London-headquartered firm partnered with Google Pay to allow Google Pay users in the US to send money to users in India and Singapore.

The same month, Wise joined Temenos MarketPlace with the aim of bringing low-cost international remittances to banks worldwide.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International