Wise Sees 33% YoY Increase in Revenue in H1 FY22

Wise, the global technology company building a better way to move money around the world, has posted its financials for the first half of the fiscal year 2022, revealing a surge in demand for its services.

More specifically, the company recorded a revenue of £256.3 million, 33% higher than £192.2 million in H1 FY2020. Adjusted EBITDA rose to £61 million, increased by 20% on a YoY basis. Adjusted EBITDA margin for this period came in at 24%. Profit before tax stood at £18.8 million, showing a slight decrease compared to £20 million during the same period last year.

In addition, Wise also reported a volume of £34 billion, up 44% compared to the prior year. Gross profit reached £174 million, a 46% increase as compared to £119.2 million in the same period previous year.

Recently, Wise has announced its partnership with Fruugo​, one of the leading marketplaces and specialists in generating cross-border e-commerce sales for retailers.