Fintech Startup Transferwise Closes $280m Funding From Top Investors

One of the star fintech startups of the United Kingdom has settled an enormous new funding round from top investors, including early backers of Snap, Twitter, and Netflix.

Transferwise has gathered $280m led by Old Mutual Global Investors and IVP, a Silicon Valley venture firm.

Japan’s Mitsui & Co, World Innovation Lab, and Sapphire Ventures have also hopped on board as new investors while existing investors Andreessen Horowitz, Baillie Gifford, and Richard Branson also participated in the series E round.

It brings the total amount of funding for the money transfer startup to $397m.

“Our team looks to invest in companies with the potential to significantly disrupt an industry,” stated the manager of UK mid-cap fund at Old Mutual, Richard Watts. Old Mutual counts the investment as its second in a private company.

“The opportunity to invest now in a private company, with a hugely exciting global growth story, is particularly compelling and we believe this holding will benefit investors in the funds we manage.”

The fresh cash will help the startup expand further into Asia.

Taavet Hinrikus, the co-founder of Transferwise said: “It’s great to have the support of Old Mutual Global Investors and IVP in bringing fair and transparent financial services to more people through our Borderless account.”