Wise PLC (LON:WISE) told investors that its first-quarter financials were in line with expectations.
Revenue amounted to £123.5mln which represented 43% year-on-year versus the comparative period of the prior year.
"Wise's mission is to make moving and managing money across borders faster, easier, cheaper and more transparent for everyone, everywhere," said chief executive Kristo Kärmann.
“In the first quarter of this financial year we continued to take important steps forwards towards this goal while also successfully listing Wise on the London Stock Exchange.
"We were pleased that in the first quarter of this financial year we were able to reduce pricing by 2bps to 0.67%, dropping prices for 19 currencies while also delivering 38% of all transfers instantly.”
Kärmann added: "As we enter the next phase of our growth to tackle the problem of the £150 billion the world continues to pay in hidden fees each year, we're focused on doing so reliably and sustainably, so our customers know they can count on us for the long term."
Earlier this month Wise successfully executed its experimental listing in London, via the ‘direct listing’ process which did not include an IPO or even a pricing of the shares – instead the London Stock Exchange market auction process set its first price.
In the quarterly trading update, Wise highlighted that it recently sealed partnerships with Google Pay, Shinhan Bank, Temenos and Thought Machine all of which opened up to customers even though the platform is still early in its development.