Banks, Estonia, Financial Services, Technology

International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2024, 12:27

Estonia: Transferwise secures EUR 74 mln syndicated debt facility with LHV's participation

BC, Tallinn, 16.11.2018.Print version
The provider of international money transfer services Transferwise has completed a 65 million pound or approximately 74 mln euro syndicated debt facility, while the Estonian bank LHV is also participating in the syndicate, informed LETA/BNS.

Transferwise completed the syndicated debt facility with NatWest and JPMorgan as well as LHV. The credit facility provides Transferwise with a flexible funding solution to support the latter’s current and future working capital requirements, it appears from the press release.


"This revolving loan provides cost-effective working capital, helping us continue to deliver an exceptional service to customers as we grow at pace," Matt Briers, chief financial officer at Transferwise, said. 


“We have worked closely with Transferwise from an early stage in their development and very much regard ourselves as partners who fully understand their business," Andres Kitter, head of LHV's UK branch, said.


Transferwise has so far raised altogether 335.6 mln euros. Annual revenue of Transferwise grew by more than 75% to 117 mln pounds. Net profit totaled 6.2 mln pounds, or 6.93 mln euros, and the company earned a profit for the second year in a row.






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