Wise Sees Active Customers, Profit and Revenue Rise in H1

The company revealed Wednesday that the number of active customers increased by 25% year-over-year, reaching 11.4 million. Revenue surged 19% to £591.9 million, driven by a 19% increase in cross-border volume to £68.4 billion.

Reported profit before tax came in at £292.5 million, rising a significant 51% from the previous year.

Wise said it continues to invest in its infrastructure, with the launch of its sixth direct connection to a domestic payment system in the Philippines.
The company has also received regulatory approvals to integrate directly with systems in Brazil and Japan.

The company also highlighted that 63% of transfers are now completed instantly, and the average cross-border take rate has decreased to 62 basis points.

Kristo Käärmann, Co-founder and Chief Executive Officer of Wise, commented: “We are pleased with the progress over the first six months of the year, with our key financial metrics maintaining a healthy growth trajectory as we continue investing in the infrastructure that will ultimately enable us to move trillions through our market-leading network.”

He also pointed to the company’s focus on customer experience, efficiency, and global expansion.