- Wise posted $1.3B revenue, over 200% profit growth in FY2024.
- Asia Pacific became its second-biggest market after regional expansion.
- Wise continues bolstering regulatory compliance with new payment system connections.
UK fintech firm Wise recorded a jaw-dropping $1.3 billion in revenue for FY 2024, marking a 24% yearly increase.
Net profits went into cosmic overdrive, skyrocketing 212% to $451 million, turbocharged by the Asia Pacific region’s $274.9 million contribution.
APAC expansion party
Wise unleashed an APAC expansion spree last year, launching services in fresh hunting grounds like the Philippines.
Despite bidding adieu to e-wallet features in Indonesia, the region cemented its position as Wise’s second-largest global revenue frontier.
Regulatory renaissance
Over 65 regulatory licenses and 90+ banking partners worldwide, Wise continues fortifying its compliance citadel. Direct hookups to five domestic payment systems, including Australia’s NPP, showcase its rock-solid infrastructure muscle.
CEO Kristo Käärmann oozed confidence in Wise’s sustainable growth odyssey, propelled by the wildly popular Wise account serving 12.8 million customers.
With $13.3 billion in cash reserves, this fintech unicorn is primed to pursue its mission of making customers utterly “evangelical” about its offerings.
To read the original article: https://www.techinasia.com/wise-posts-13b-revenue-200-growth-profits
