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Wise Statistics: AUM, Valuation, Revenues, Number of Users & More

Mariana Vilaça| Updated January 8th, 2024

Wise is a financial technology company based in London that was founded in 2011. Wise was launched to make international money transfers cheap, fair, and simple.

In this article, we’ll examine the statistics that matter most, such as Wise’s user base, as well as revenue, valuation, user stats and other metrics. By examining these key metrics, we’ll uncover valuable insights into the company’s growth and success and its impact on the banking world.

If you’re curious about Wise’s statistics, continue reading to find out more about the most recent 2024 statistics.


Wise Payments Limited was established in 2011 by Kristo Kaarmann and Taavet Hinrikus with the objective of providing international money transfers without the problems that normally have been found on the banks. Today, Wise provides a core money transfer product, along with a borderless account for its audience of ex-pats, freelancers, and travellers, which holds over £2 billion in current deposits.

Here are some key corporate facts about Wise:

Founded in: January 2011 (incorporated on 31 March 2010)
Headquarters: London, England, United Kingdom
IPO date: July 7, 2021
Listed exchange: London Stock Exchange (LSE)
Ticker WISE
Sector: Financials
Industry: Financial Services, FinTech, InsurTech, Payments
Founders: Kristo Kaarmann, Taavet Hinrikus
Number of employees: +5,000
Financial Year 1 April to 31 March

Wise Users

Wise categorises an active customer as a distinctive user who has successfully executed at least one cross-currency transaction within the given year. It’s essential to emphasise that a Wise personal account is designed for personal use, whereas business accounts are intended for corporate use.

Analysing the annual trend, there is a notable increase in active customers across personal and business accounts. A significant surge is observed between 2022 and 2023, with a total increase of 2.6 million active customers. In the current year, 2023, the proportion of active customers utilising Wise for personal use accounts is 94% of the total, while business accounts contribute only 0.52%.

Fiscal Year Active customers (in millions) Personal active customers (in millions) Business active customers (in millions)
2023 10 9.4 0.52
2022 7.4 7.0 0.41
2021 6 5.7 0.3
2020 4.7 4.5 0.19

Source: Wise

Wise Revenues

Wise generated revenues from money transfers and Wise Account, including conversions and debit card services.

Wise generated £847.1 million in revenue in the fiscal year 2023. That’s a 51.3% increase over the previous year.

Fiscal Year Revenues (£ millions)
2023 847,1
2022 559,9
2021 421,0
2020 302,6

Source: Wise

Revenues per Active Customer

When analysing the revenue per active customer, a consistent upward trend is evident year after year. In 2023, a notable increase of 11.96% was recorded over the previous year, 2022.

Fiscal Year Revenues per Active Customer (£)
2023 84.71
2022 75.66
2021 70.17
2020 64.38

Source: Wise

Revenues by Region

All the years under analysis, we can conclude that Europe is the primary source of revenue. The United Kingdom is disaggregated in this European analysis to highlight the substantial impact that revenues from there have on the overall total. One potential explanation for this is that Wise is a company that has its headquarters in London.

Fiscal Year Europe United Kingdom North America Asia-Pacific Rest of the World
2023 32% 19% 21% 20% 8%
2022 33.2% 22.2% 20.9% 18.1% 5.6%
2021 32.4% 22.8% 21.3% 17.2% 6.3%
2020 31.2% 24.0% 20.8% 15.7% 8.3%

Wise Profitability

By looking at the table below, it becomes evident that Wise is a financially sound company, necessitating a considerable payment in “Cost of sales and administrative expenses” (most coming from “Banking and customer-related fees”), as indicated by the difference between the gross profit and pre-tax profit values.

Fiscal year Gross profit (£ millions) Pre-tax profit (EBT) (£ millions)
2023 638 147
2022 369 44
2021 261 41
2020 194 20

Source: Wise

Wise Valuation

Between 2016 and 2021, the formerly known TransferWise was considered a unicorn due to its rapid growth and corresponding valuation. In 2021, the company went public, rebranding itself as Wise and listing on the London Stock Exchange (LSE).

Fiscal Year Valuation
Jan. 25, 2015 $900 million
May 25, 2016 $1.1 billion
Nov. 2, 2017 $1.3 billion
2018 $1.6 billion
May 21, 2019 $3.2 billion
July 29, 2020 $4.681 billion
Dec. 31, 2021* $10.46 billion
Dec. 30, 2022 $6.95 billion
Nov. 16, 2023 $9.05 billion

*Starting from 2021, TransferWise became a public company and rebranded as Wise. Since then, the company’s valuation has been reflected through its market capitalisation.

Wise AUM1

As outlined in the 2023 annual report, Wise customer accounts collectively managed a currency portfolio totalling £10.7 billion on the platform. This marks a noteworthy surge of £3.9 billion or a 57% increase compared to the £6.8 billion held by customers in 2022.

Fiscal Year Customer Balance (£ billions) Business Balance (£ billions) Personal Balance (£ billions)
2023 10.7 5.0  5.7 
2022 6.8 3.3  3.5 
2021 3.7 n/a n/a
2020 2 n/a n/a

Source: Wise

The data provided primarily comes from an external source, Fintel. Nonetheless, it’s crucial to note that the value presented in the table should not be used as a substitute for Assets Under Management (AUM), as it does not include cash held in accounts.

Average Wise deposit size

To gauge the deposit magnitude, it’s crucial to initially segment the assessment based on the account type. As previously noted, one can possess either a Wise personal account tailored for personal use or a Wise business account designed for corporate purposes.

Upon conducting this analysis, it becomes evident that the size of business deposits surpasses that of personal deposits, aligning with expectations. In both the personal and business contexts, there is a notable increase in 2023, with growth rates of 21.28% and 19.46%, respectively, compared to 2022.

Personal deposit vs business deposit

Source: Wise

Wise Transfer Volumes

In the fiscal year 2023, Wise facilitated currency transfers totalling £104.5 billion for its clients, marking a substantial 36.7% surge compared to the previous year and an impressive 92% upswing since 2021.

A noteworthy breakdown reveals that personal customers constituted 73.3% of the overall transaction volume, with business customers contributing 26.7% in 2023.

Fiscal Year Total Volume (£ billions) Personal Volume (£ billions) Business Volume (£ billions)
2023 104.5 76.6 27.9
2022 76.4 56.9 19.5
2021 54.4 42.1 12.3
2020 41.7 33.4 8.3

Source: Wise

Bottom Line

Wise is a leading financial technology company specialising in international money transfers and currency exchange. Founded in 2011, the platform distinguishes itself through transparent and cost-effective services, allowing users to send money across borders at lower rates than traditional banks.

In this article, we strive to provide insights into the company, utilising all publicly available information. We have aggregated data on Wise users, revenues, profitability, valuation, the amount of money held with Wise, average Wise deposit size, and Wise trading volumes.


Is Wise available in my country?

Probably, yes! Wise is available worldwide except in: Afghanistan, Belarus, Burundi, Central African Republic, Chad, Congo, Democratic Republic of the Congo, Cuba, Region of Crimea, Eritrea, Iran, Iraq, North Korea, Libya, Myanmar, Somalia, Republic of South Sudan, Russia, Sudan, Syria, Yemen, Venezuela

Is Wise regulated?

Yes, Wise is regulated by ASIC,  Estonian Financial Supervision Authority, CCE, Kanto Local Financial Bureau, and Bank Negara Malaysia. However, notice that some regions have institutions that authorise the activities; you can check that on the wise website.

Is Wise safe and insured?

While Wise lacks FDIC insurance since it is not a bank, it ensures the segregation of client funds from the company’s assets, guaranteeing constant availability of funds for customers. As highlighted earlier, Wise is regulated by prominent financial supervisory entities, providing an additional layer of protection.

1It excludes customer funds held in ‘Assets’ products.

Mariana Vilaça
Fintech Analyst

Mariana is currently a finalist in Management program at the University of Minho, and she also serves as a digital ambassador for a leading Big4 company in the field of financial consulting, Ernst & Young.

Mariana's primary areas of interest revolve around the exact sciences, numbers, and the financial sector. Presently, Mariana holds the position of COO at a junior initiative within her university, dedicated to promoting financial literacy among the youth and addressing the educational challenges faced in Portugal.