Money transfer firm Wise has posted a robust third-quarter performance, marked by a significant jump in users and payment volumes, as it advances preparations for its pivotal dual listing in the United States.
Strong Financial Growth Amid Expansion Plans
The London-based fintech reported a 26 per cent surge in cross-border payment volumes, which reached £47.4 billion in the quarter. This growth was fuelled by a rapidly expanding customer base, with the company now serving close to 11 million users. This figure represents a notable increase of one-fifth compared to the same period last year.
Consequently, Wise's income climbed to £424.4 million, a rise of 21 per cent. The company anticipates its full-year income will settle in the middle of its projected 15 to 20 per cent growth range. Despite ramping up investments, Wise forecasts its annual profit will hit the top end of its 13 to 16 per cent target.
Investing for the Future and Internal Tensions
The firm is aggressively investing to support its ambitious growth trajectory. Marketing expenditure soared by 59 per cent to £57 million, while technology investment increased by 18 per cent to £144 million. Furthermore, Wise has outlined plans to hire more than 1,000 additional staff to bolster its operational capacity.
These moves come ahead of its planned US dual listing in the first half of 2026, a decision announced in June 2025 that sent shockwaves through the City of London. The company stated that shifting its primary listing to New York would provide access to greater liquidity and a larger investor community, offering a potential pathway to inclusion in major US indices.
However, the listing plan exposed a major rift between co-founders Kristo Käärmann and Taavet Hinrikus. Hinrikus publicly expressed being "deeply troubled" by proposals to alter voting rights bundled with the listing vote, accusing Käärmann of a "lack of transparency." Despite this internal conflict, shareholders overwhelmingly approved the move, with over 90% of Class A and 84.6% of Class B shareholders voting in favour.
Navigating a Strategic Shift
Emmanuel Thomassin, Wise's finance chief, emphasised the strategic rationale behind the transatlantic move, noting the US offers "larger liquidity with a larger investors community." The decision underscores a significant shift for one of the UK's most prominent fintech success stories, as it seeks to accelerate its global expansion beyond its London roots.
The strong quarterly results provide a solid foundation for this next chapter, demonstrating resilient customer growth and financial performance even as the company navigates substantial internal change and a landmark strategic relocation.
