Wise (LON:
WISE), the London-listed cross-border payments company, announced plans to
establish a primary listing in the United States while maintaining its UK
presence, as the fintech reported a 23% jump in transaction volumes to £145.2
billion for
the year ended March 31.
The
company, which processes international money transfers and currency exchanges,
said it moved funds for 15.6 million customers during the fiscal year,
representing a 21% increase from the previous period. Revenue climbed 15% to
£1.2 billion, while underlying profit before tax rose 17% to £282.1 million.
Wise Plans US Primary
Listing as Cross-Border Payments Surge 23%
Chief
Executive Kristo Käärmann said the board concluded its review of listing
arrangements and decided to transfer the primary listing from London’s equity
shares transition category to a US exchange, while keeping a secondary listing
on the London Stock Exchange.
“We
believe the addition of a primary US listing would help us accelerate our
mission and bring substantial strategic and capital market benefits,”
Käärmann stated in the results announcement.
The company
cited several reasons for the move, including access to a broader investor
base, particularly US institutional and retail investors who currently cannot
hold the shares. Wise also
expects the change could provide a pathway to inclusion in major US indices and
help raise its profile in the world’s largest economy.
Net Profit Up 18%
The
fintech ‘s underlying income grew 16% to £1.36 billion, driven by customer
growth and increased adoption of multi-currency accounts. Personal customers
expanded 22% to 14.9 million, while business
customers increased 11% to 697,300.
|
Financial Metrics |
FY2025 |
FY2024 |
YoY Change |
|
Revenue |
£1,211.9m |
£1,052.0m |
+15% |
|
Underlying Income |
£1,362.3m |
£1,172.7m |
+16% |
|
Underlying Profit Before Tax |
£282.1m |
£241.8m |
+17% |
|
Reported Profit Before Tax |
£564.8m |
£481.4m |
+17% |
|
Basic Earnings per Share |
40.37p |
34.20p |
+18% |
Customer
balances held in Wise accounts surged 29% to £17.1 billion, with total customer
holdings including assets reaching £21.5 billion, up 33% year-over-year. The
company reduced its average transaction fee rate by 14 basis points to 53 basis
points in the fourth quarter.
Approximately
65% of payments now complete in under 20 seconds, up from 49% three years ago,
reflecting improvements to the company’s payment infrastructure that bypasses
traditional correspondent banking networks.
|
Key Performance Indicators |
FY2025 |
FY2024 |
YoY Growth |
|
Active Customers |
15.6m |
12.8m |
+21% |
|
Cross-border Volume |
£145.2bn |
£118.5bn |
+23% |
|
Customer Balances |
£17.1bn |
£13.3bn |
+29% |
|
Customer Holdings (Total) |
£21.5bn |
£16.2bn |
+33% |
|
Assets Under Custody |
£4.5bn |
£2.9bn |
+52% |
Infrastructure Investments
and Future Plans
Wise
continued expanding its direct connections to domestic payment systems, going
live with InstaPay in the Philippines and securing regulatory approvals for
Brazil’s PIX system and Japan’s Zengin network. The company now operates with
over 70 licenses globally.
In India,
Wise activated a new license that removed previous transaction limits, while in
Australia it launched an interest-earning feature for account holders using
government-guaranteed assets.
The company
committed to investing approximately £2 billion over the next two years across
infrastructure, marketing and product development to capture more of what it
describes as a £32 trillion cross-border payments market opportunity.
For fiscal
2026, Wise expects underlying income growth of 15-20% and plans to operate at
an underlying profit margin around the top of its medium-term target range of
13-16%.
The
company’s shares have delivered basic earnings per share of 40.37 pence, up 18%
from 34.20 pence in the prior year.
Britain’s IPO market remains parched, with new listings few and far between despite government efforts to revive activity. The Treasury has been courting high-profile fintech firms like Revolut and Monzo in a bid to reverse the trend and anchor them in London’s financial hub. But the continued listing drought underscores broader concerns about the UK’s competitiveness as a destination for fast-growing tech companies.
Wise (LON:
WISE), the London-listed cross-border payments company, announced plans to
establish a primary listing in the United States while maintaining its UK
presence, as the fintech reported a 23% jump in transaction volumes to £145.2
billion for
the year ended March 31.
The
company, which processes international money transfers and currency exchanges,
said it moved funds for 15.6 million customers during the fiscal year,
representing a 21% increase from the previous period. Revenue climbed 15% to
£1.2 billion, while underlying profit before tax rose 17% to £282.1 million.
Wise Plans US Primary
Listing as Cross-Border Payments Surge 23%
Chief
Executive Kristo Käärmann said the board concluded its review of listing
arrangements and decided to transfer the primary listing from London’s equity
shares transition category to a US exchange, while keeping a secondary listing
on the London Stock Exchange.
“We
believe the addition of a primary US listing would help us accelerate our
mission and bring substantial strategic and capital market benefits,”
Käärmann stated in the results announcement.
The company
cited several reasons for the move, including access to a broader investor
base, particularly US institutional and retail investors who currently cannot
hold the shares. Wise also
expects the change could provide a pathway to inclusion in major US indices and
help raise its profile in the world’s largest economy.
Net Profit Up 18%
The
fintech ‘s underlying income grew 16% to £1.36 billion, driven by customer
growth and increased adoption of multi-currency accounts. Personal customers
expanded 22% to 14.9 million, while business
customers increased 11% to 697,300.
|
Financial Metrics |
FY2025 |
FY2024 |
YoY Change |
|
Revenue |
£1,211.9m |
£1,052.0m |
+15% |
|
Underlying Income |
£1,362.3m |
£1,172.7m |
+16% |
|
Underlying Profit Before Tax |
£282.1m |
£241.8m |
+17% |
|
Reported Profit Before Tax |
£564.8m |
£481.4m |
+17% |
|
Basic Earnings per Share |
40.37p |
34.20p |
+18% |
Customer
balances held in Wise accounts surged 29% to £17.1 billion, with total customer
holdings including assets reaching £21.5 billion, up 33% year-over-year. The
company reduced its average transaction fee rate by 14 basis points to 53 basis
points in the fourth quarter.
Approximately
65% of payments now complete in under 20 seconds, up from 49% three years ago,
reflecting improvements to the company’s payment infrastructure that bypasses
traditional correspondent banking networks.
|
Key Performance Indicators |
FY2025 |
FY2024 |
YoY Growth |
|
Active Customers |
15.6m |
12.8m |
+21% |
|
Cross-border Volume |
£145.2bn |
£118.5bn |
+23% |
|
Customer Balances |
£17.1bn |
£13.3bn |
+29% |
|
Customer Holdings (Total) |
£21.5bn |
£16.2bn |
+33% |
|
Assets Under Custody |
£4.5bn |
£2.9bn |
+52% |
Infrastructure Investments
and Future Plans
Wise
continued expanding its direct connections to domestic payment systems, going
live with InstaPay in the Philippines and securing regulatory approvals for
Brazil’s PIX system and Japan’s Zengin network. The company now operates with
over 70 licenses globally.
In India,
Wise activated a new license that removed previous transaction limits, while in
Australia it launched an interest-earning feature for account holders using
government-guaranteed assets.
The company
committed to investing approximately £2 billion over the next two years across
infrastructure, marketing and product development to capture more of what it
describes as a £32 trillion cross-border payments market opportunity.
For fiscal
2026, Wise expects underlying income growth of 15-20% and plans to operate at
an underlying profit margin around the top of its medium-term target range of
13-16%.
The
company’s shares have delivered basic earnings per share of 40.37 pence, up 18%
from 34.20 pence in the prior year.
Britain’s IPO market remains parched, with new listings few and far between despite government efforts to revive activity. The Treasury has been courting high-profile fintech firms like Revolut and Monzo in a bid to reverse the trend and anchor them in London’s financial hub. But the continued listing drought underscores broader concerns about the UK’s competitiveness as a destination for fast-growing tech companies.
This post is originally published on FINANCEMAGNATES.
