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TransferWise secures £65m syndicated debt facility

Tom Belger | 16:59 Wednesday 14th November 2018

TransferWise has completed a £65m syndicated debt facility with NatWest, JP Morgan and LHV Bank.

The facility will support the increasing requirements of the financial company’s growing international customer base.

The London-based company offers customers solutions to manage money across borders, has over four million customers and moves £3bn of money on behalf of users each month.

Led by NatWest, the credit facility provides TransferWise with a flexible funding solution to support the latter’s current and future working capital requirements.

“TransferWise is all about moving money around the world faster, cheaper and more conveniently,” said Matt Briers, chief financial officer at TransferWise.

“This revolving loan provides cost-effective working capital, helping us continue to deliver an exceptional service to customers as we grow at pace.” 

Matt Whittle, relationship director at NatWest, said it was delighted to continue its support of TransferWise.

“NatWest has worked closely with the team to structure a bespoke funding solution that is reflective of the company’s exponential growth and unique business model. 

“We look forward to continue working with the team and supporting their future growth ambitions.”

Andres Kitter, head of UK banking at LHV Bank, added: “We have worked closely with TransferWise from an early stage in their development and very much regard ourselves as partners who fully understand their business. 

“Collaborating with NatWest and JP Morgan underscores LHV’s credentials as a trusted partner for the fintech community.” 

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