Its intuitive, affordable, multi-currency money transfer and currency exchange solution, alongside a payment card service, continue to be a resounding success with its growing number of users.

In a sometimes surprising fintech landscape, where many peers offer dubious value propositions or even defend incomprehensible business models, Wise, on the contrary, is addressing a genuine inefficiency in the banking sector.

Its success can be measured in figures: revenue has increased by 40% in two years; the number of customers has grown by half in two years; and their deposits with Wise are growing at an even faster pace.

The British company aims to "move trillions." It has achieved one-sixth of this goal in 2025, which is still a long way off, with £145bn in total transaction volume, compared to £118bn in 2024 and £104bn in 2023; although this remains on an upward trend.

In five years, Wise has quadrupled its revenue and pre-tax profit—the latter requires adjustments to reported accounting profit, mainly because the company does not have a banking license and therefore cannot collect interest on customer deposits.

With a pre-tax profit margin of 23% despite a very customer-friendly fee and commission policy, Wise, which is expected to reach £200bn in transaction volume and £1.65bn in revenue within two to three years, could generate at least £330m in pre-tax profit by that time.

The fintech company's valuation has recovered significantly after a slump due to governance issues, which MarketScreener reported at the time. It is currently trading at around 30x pre-tax profit expected in two to three years, or, broadly speaking, 40x the same profit after tax.

This relatively generous multiple is exposed to potential compression if competition from traditional banks—HSBC has been the most enterprising with its Zing app—and alternative platforms—such as Revolut—intensifies.

Still controlled by its founder Kristo Käärmann—the second largest shareholder is the famous American venture capital fund Andreessen Horowitz—Wise announced last week that it was preparing to transfer its listing from the London Stock Exchange to the New York Stock Exchange.

In theory, this would further boost its valuation. In practice, it would also give its management the opportunity to introduce a stock option compensation policy modeled on US standards.