TransferWise co-founder and CEO Taavet Hinrikus. Photo by: www.vincenzorigogliuso.com

London based fintech unicorn TransferWise has raised a £65 million syndicated debt facility from NatWest, JP Morgan and LHV Bank to support increasing requirements of its growing international customer base.

This facility provides the company last valued at $1.6 billion with a flexible funding solution for its capital requirements. “TransferWise is all about moving money around the world faster, cheaper and more conveniently. This revolving loan provides cost effective working capital, helping us continue to deliver an exceptional service to customers as we grow at pace.” The company’s chief financial officer Matt Briers said.

TransferWise currently has 4 million customers and moves £3billion of money on behalf of customers each month having got in early in the U.K. fintech space with its solution that offers savings for its customers through a smart approach that avoids high transfer fees as in the case of conventional banks.

The company kicked off in 2011 and has grown to support lots of currencies spanning 48 countries. It’s raised $481 million in total equity since then and counts the likes of Andreessen Horowitz, IVP (Institutional Venture Partners), the Virgin Group, Sapphire Ventures and Baillie Gifford as investors.

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