Wise plc reported a strong financial performance for the first half of its fiscal year 2025, ended September 30, 2024.
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.