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The history of profitable, $5 billion TransferWise ahead of anticipated IPO

Wise This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Wise, one of Europe s earliest and most successful fintech firms, is exploring an IPO in 2021. The firm, formerly TransferWise, started with cheap money transfers and is now worth $5 billion. Insider spoke with the company s CEO, CFO, early investors, and analysts to chart its rise. Wise, the $5 billion fintech success story, started life as TransferWise in London in 2011. The premise was simple: Major banks made a killing in fees and foreign-exchange rates when people transferred money from one currency to another, and this startup wanted to change that.

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