Financial technology group Wise PLC (LSE:WISE) enjoyed a 19% increase in cross-border volume in the first half of its 2025 financial year, while active customers surged by 25%.
Yet Wise’s low-cost philosophy meant that cross-border revenue growth of 9% trailed these bullish volumes.
Wise’s mission statement has long been to make cross-border money transfers eventually free.
The London-listed group made progress on this front in the first half with the average cross-border take rate of 0.62% five basis points lower than a year ago.
Nonetheless, group-wide revenue increased by 19% thanks to interest income and card fees.
“We are pleased with the progress over the first six months of the year, with our key financial metrics maintaining a healthy growth trajectory as we continue investing in the infrastructure that will ultimately enable us to move trillions through our market-leading network,” said co-founder and chief executive Kristo Käärmann.
Despite being low cost, Wise's business model is highly profitable, with profit before tax for the period increasing by 51% to £292.5 million.
The results led to a 6.7% increase in Wise’s share price on Wednesday.
Wise’s valuation puts it in the same bracket as the FTSE 100 set, provided management shifts its listing to the requisite Equity Shares (Commercial Companies) Category under existing listing rules.
“To be eligible to step up to the ESCC, in addition to needing FCA approval to transfer, Wise would also need to amend certain parts of its Articles of Association, subject to approval from shareholders,” said Wise.