IVP ‘set for TransferWise investment’
Written by Chris Lemmon
Silicon Valley investment firm IVP, which has previously invested in Snapchat, Twitter and Netflix, is reportedly close to finalising a deal to buy a stake in UK-based international payments app TransferWise.
This is according to reports from Sky News, which claims that the deal will be worth tens of millions of pounds – likely to be in the region of $60 million. The latest investment will form part of a fundraising round from TransferWise.
TransferWise is said to have held talks with a number of other investors about adding to the $117 million it has previously raised during its six-year history.
Earlier this year TransferWise integrated its payments platform with Facebook Messenger, enabling its customers to send money and set up rate alerts directly from the social messaging app.
The chatbot is able to set up transfers from the US, UK, Canada, Australia and Europe, guiding customers through each step. If users make regular payments between two currencies, rate alerts can be set up to stay updated on the daily exchange rate.