Wise keeps the money moving as growth stays on fast track

Wise Group PLC (LSE:WISE, NASDAQ:WSE) has kicked off its 2027 financial year with another strong quarter, as more customers turned to the fintech group for fast, low-cost international payments.

The company reported first-quarter net revenue of US$714 million, up 25% from a year ago, driven by continued growth in cross-border payment volumes and customer numbers.

Customers transferred US$69.3 billion through the platform during the three months to 30 June, a 26% increase on the same period last year, while active customers climbed 21% to 11.9 million.

Customer balances also surged 31% to US$41.2 billion, highlighting the growing use of Wise's multi-currency accounts.

Transaction revenue rose 27% to US$540.9 million, even as the average fee fell to a record-low 0.50%. The lower pricing reflects Wise's strategy of passing on efficiency gains to customers while continuing to grow volumes.

Speed also improved, with 77% of transfers arriving instantly, up from 70% a year earlier.

"We continue building 'the' network for the world's money," co-founder and chief executive Kristo Käärmann said, noting that almost 12 million people and businesses used Wise during the quarter.

The company also expanded into Chile, where customers can now send money abroad and top up multi-currency accounts using local instant payment methods.

Looking ahead, Wise reaffirmed its full-year guidance, expecting revenue growth to remain comfortably within its medium-term target range and profitability towards the top end of its target margin.