Wise plc (LON:WISE) today provided a trading update for the second quarter of fiscal year 2025.
During the period, the number of active customers using Wise grew by 23% year-on-year to 8.9m in Q2, driven primarily by existing customers recommending Wise.
Continued growth in customers and Wise account adoption drove a 20% year-on-year increase in cross border volume (23% on a constant currency basis) to £35.2bn, a 20% year-on-year increase in customer deposits and a 49% increase in card and other revenue.
In Q2, the company continued to reduce and restructure its cross border pricing to sustainably drive growth. The cross border take rate for the quarter was 59bps, an 8bps reduction year-on-year due to lower prices (6bps) and a changing mix (2bps). The equivalent of 2bps of this reduction is offset at an…
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