Money transfer service TransferWise is now valued at $3.5 billion, a figure it said it attained following a $292 million secondary funding round.
The round, which saw no new shares issued or capital raised, is essentially a way for early investors and employees to cash in by selling some of their stock to newer investors. According to the company, Lead Edge Capital, Lone Pine Capital, and Vitruvian Partners led the stock purchase, while existing investors Andreessen Horowitz and Baillie Gifford also expanded their stake in the London-based company, alongside funds managed by BlackRock.
For the uninitiated, TransferWise is a major player in the fintech realm, with a peer-to-peer international money transfer platform that helps consumers bypass banks to cut down on foreign exchange rates. The