Business
Half-year Report
Half-year Report.
About this update from Wise Plc Class A
[{"type":"text","content":"\n \n \n \n RNS Number : 9562T\n Wise PLC\n 30 November 2021\n \n \n \n \n \n \n \n 30 November 2021\n \n \n \n \n \n Wise plc\n \n \n Unaudited results for the six months ended 30 September 2021\n \n \n \n \n \n \"We're on a mission to make moving and managing money across borders faster, easier, cheaper and more transparent for everyone, everywhere.\n \n \n \n \n \n Each quarter we strive to make progress on this mission. Over the first half of this year we've improved our products and engineered away substantial points of friction in the payments process, enabling us to sustainably lower prices while continuing to invest in growing the business for the long term. So a virtuous circle of investment continues, and our service gets faster, better and cheaper than ever for our personal and business customers.\n \n \n \n \n \n Whilst we have made significant progress, millions of people and businesses continue to be overcharged and poorly served by banks and other payment providers.\" \n \n \n \n \n \n Kristo Kärmann, Co-founder and Chief Executive Officer\n \n \n \n \n \n \n Highlights for the six months ended 30 September 2021\n \n ¹\n \n \n \n \n \n We've made progress on our Mission\n \n \n - We managed to reduce the average price our customers pay for moving money across borders to 0.62% in Q2 FY22, down 7bps compared to the average prices in Q4 FY21; \n \n \n - Our payments got faster too. 40% of all transfers were delivered instantly in Q2 FY22;\n \n \n - We enhanced our Wise Account; excitingly we launched our Assets feature for customers in the UK, and made the account more useful for businesses around the world, who can now issue company cards to their employees and manage their expenses on Wise;\n \n \n - We've increased our platform partners with a further 10 partnerships commencing, taking the total \n \n \n number to 30, and\n \n \n - We expanded our customer base: we served 3.9 million active customers in Q2 FY22, an increase of 7% from Q1 FY22 or 23% as compared to Q2 FY21;\n \n \n - Combined, this progress is driving our growth: we transferred over £34 billion for our customers in the period, 44% more than H1 FY21 (£24 billion).\n \n \n \n \n \n We've become a stronger business, as we continue to generate healthy gross...