The Fintech unicorn TransferWise has decided to ask investment banks to pitch in the new year for roles on an impending initial public offering (IPO), Sky News reported.
Goldman Sachs is understood to be well-suited for a leading role on the deal.
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This follows a successful period of TransferWise as it announced a 70% growth in revenue over the last financial year to £302.6 million.
TransferWise was also valued at $5bn (£3.7bn) in a secondary fundraising just five months ago, and an IPO is likely to take place later in the 2021.
Some insiders say its valuation is likely to be in excess of the figure achieved in July, even before any new funds are included from the sale of new equity.
The company has also announced it will hire 750 new staff members in the next 6 months.
The most important details of the company’s prospective public markets debut have yet to be finalised, although London is said to be the preferred listing destination of its founders, Taavet Hinrikus and Kristo Kaarmann.
According to Sky News, “UK Prime Minister Boris Johnson, hosted a call on 18 December, with the bosses of some of the UK’s “most prized tech companies”. This included Deliveroo, Oxford Nanopore and Revolut – as part of a charm offensive to sell the City’s credentials to the sector.”
Kaarmann, TransferWise’s chief executive, was among those in attendance.
