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TransferWise Bucks the Trends as Other Startups Struggling for Cash

Online money service TransferWise, one of Europe’s most valuable fintechs, doubled its net profits for its fiscal year ending in March. So reports CNBC.

arrows 311332 640 smallFurther, annual revenues are up 70% for that same time periods as well. “TransferWise’s annual accounts have been in the black since 2017, a rare display of sustainable growth in the fintech sector. Other start-ups in the space have reported deepening losses due to spending on new product features and overseas expansions,” according to the article.

Read the full article from CNBC.

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