D1 Capital buys 4% of TransferWise for $200m after new FCA approvals

TransferWise debit card. Image credit: TransferWise Ltd.

D1 Capital Partners, a New York-based hedge fund, has agreed to buy 4% of UK-fintech TransferWise for US$200m in a secondary share sale according to a report by Sky News.

This values TransferWise at around US$5 billion.

TransferWise provides foreign exchange, current accounts and other services to customers around the world.

TransferWise recently received a FCA license to also provide investment products to customers. Read about this here.

D1 was founded by Daniel Sundheim in 2018 and is a high profile fund that has built a reputation for investing in technology stocks.

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