TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.
Vitruvian Partners, Lone Pine and Lead Edge bought stakes in TransferWise in a secondary share sale.
In lowering fees and adding a slick online platform to help consumers move money globally and track their transfers, the London-based company is taking a modern approach to a staid business that's been dominated by giants like Western Union andThe company says it's been pushing for more transparency around the fees banks and currency exchange services charge their customers for transferring money abroad.
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