Fintech/News/ Wise confirms plans for London float via direct listing It’s the first direct listing of a tech company in London. By Isabel Woodford 17 June 2021 \Fintech Which European banking app is winning the race for customers? By Amy O'Brien 21 February 2023 Fintech/News/ Wise confirms plans for London float via direct listing It’s the first direct listing of a tech company in London. By Isabel Woodford 17 June 2021 Wise (previously TransferWise), one of the UK’s top fintechs, confirmed Thursday that it will go public via a direct listing on the London Stock Exchange. It’s the first direct listing of a tech company in London. The company said that “in contrast to a traditional initial public offering, a direct listing is a fairer, cheaper and more transparent way for Wise to broaden its ownership, in support of its mission to move money around the world faster, cheaper and more conveniently.” Founded in 2010, Wise says it has been profitable since 2017. Revenue was £421m for the financial year of 2021, and it now claims to have 10m customers using its money transfer service. The announcement comes as London tries to woo some of Europe’s growing stable of unicorns to list in the capital instead of heading to the US. Deliveroo’s rocky debut has cast a pall over that plan. Wise’s most recent funding round valued the company at $5bn. The company has not yet provided any further guidance on pricing for its listing. That will be determined through an opening auction when it goes public in the coming weeks. Isabel Woodford is Sifted’s fintech correspondent. She tweets from @i_woodford and coauthors our new fintech-focused newsletter. Sign up here. Related Articles Meet the French startup making insurance companies pay up By Freya Pratty Click here to read more European crypto app downloads have almost halved from 2021 By Amy O'Brien Click here to read more Why Zilch is remaining quietly confident By Amy O'Brien Click here to read more Calls for UK regulator to step-up after Wirecard fintech fallout By Isabel Woodford Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?