Payments platform Wise PLC (LSE:WISE) grew its active customer base by 26% year on year to 8.4 million users in the first quarter of its 2025 financial year.
Although this is a slower rate of growth compared to the previous first quarter, when active customers grew by 33%, transactional volumes have grown at a faster rate (18% this quarter compared to 16% last year).
Underlying income grew by 22% to £325.4 million in the latest quarter, with deposit balances growing by 23%.
At the same time, Wise managed to reduce the cross-border take rate it charges on transactions by five basis points to just 0.67% under Wise’s mission statement to reduce fees as much as possible for its users.
“We're pleased to start the new financial year on a positive note, with strong momentum in active customer and volume growth,” said co-founder and chief executive Kristo Käärmann.
“We remain committed to offering the lowest possible price for moving and managing money internationally, a key pillar of our mission and a significant driver of business growth,” he added.
Shares in the FTSE 250-listed company added 3.3% in opening Tuesday trades.