Fintech firm TransferWise is planning to conduct a new $300 million fundraising round by selling a stake in itself, Reuters reports. The startup offers cheap cross-border money transfers, providing an alternative to traditional bank transfers. In previous funding rounds, it attracted the interest of investors like Richard Branson as well as Peter Thiel and Max Levchin; PayPal's co-founders. According to Reuter’s sources, Goldman Sachs Group is overseeing the newest investment round.
If successful, the raise would bring TransferWise's value to approximately $4 billion.
The company has more than 4 million users, handling $4 billion in transfers monthly. Besides the money transfers, the company has also introduced a digital wallet and a TransferWise debit Mastercard.