FinTech: London-Listed, Global Fintech Wise To Expand Its North America Business

November 30, 2021 | FinTech, News
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Wise plans include additional hiring, expansion into Texas, and moving the NYC HQ to a larger premises.

Wise (LON: WISE), the global payments processor previously known as TransferWise, announced a 2022 expansion plan for its operations in North America given its solid growth in the half year concluded on September 30, 2021. (PYMNTS.com)

The company separately announced today its unaudited results for the six months ended September 30, showing good growth in revenue and profitability:

 

(All figures in Millions of Pounds)

The company’s North America revenue grew 29% to £54.2 million ($73.0 million) in the half-year ended September 30, 2021 when compared to the same period last year.

“North America is a critical region for us as we continue to see demand and interest from people and businesses looking to move money instantly, conveniently, transparently and without hidden fees,“ said Harsh Sinha, Chief Technology Officer, Wise. ”Our expansion plan demonstrates our commitment to addressing those needs, and represents a significant step forward in our regional growth strategy.”

North American expansion

Wise proposes the following for its North American expansion.

  • Building out a new full-stack operation in Austin, Texas, which will include product management, software engineering, operations, sales, and customer support teams. The fintech has already commenced hiring for several of these positions and will begin operations from a shared co-working space in downtown commencing January 2022.
  •  Relocate its New York City headquarters office to a new, larger 8,000-foot space located at 30 W 26th Street beginning January 3, 2022. New hires proposed here too.
  • Additional hiring in 2022 at Tampa, which houses the company’s Customer Support teams, as well as its Verification, Payment Operations, Human Resources and Information Technology functions, among others.

Globally, Wise processes over £6 billion ($8 billion) in cross-border transactions every month. It is one of the world’s fastest growing, profitable tech companies.

Related Story: Money Transfer App Wise Gets $11B Valuation In London Direct Listing

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