Wise Reports 43% YoY Increase in Revenue in Q1 FY 2022

​Wise, the global technology company building a better way to move money around the world, posted a trading update for the first quarter of fiscal year 2022.

More specifically, Wise reported a total of customers transacted on the platform in Q1 stood at 3.7 million. The number of personal customers reached 3.4 million, up 28% on a YoY basis. Business customers increased by 56% than the previous year.

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Volume came in at £16.4 billion, 54% higher than the prior year and 5% higher than the prior quarter. Revenue rose to £123.5 million, showing an increase of 43% compared with last year and 6% compared with last quarter.

In addition, the number of active personal customers using Wise grew by 3% on a QoQ basis. That number for business customers increased 9% compared to the prior quarter.

​As Fazzaco reported earlier, Wise has been approved by the Financial Conduct Authority (FCA) for its listing on the London Stock Exchange (LSE)​. Admission taken place at 08.00 am (London time) on 7 July 2021.