September 5, 2016 / 10:21 AM / 3 years ago

UK money transfer site Transferwise volumes rise to 800 million pound a month

LONDON (Reuters) - Transferwise said customers were now transferring 800 million pounds in more than 600,000 transactions each month as the London-based money transfer website gave monthly transaction volumes and values for the first time publicly on Monday.

An annual report for the money transfer site showed it had tripled revenue to 28 million pounds in the year to March, but the firm also said that figure was now around 5 million pounds a month, having doubled in the past 12 months.

It said transaction volumes were also up 50 percent in the past six months, while the amount transferred for customers between different currencies each month had risen from around 500 million pounds a year ago.

The company’s existing investors include U.S. venture capital firm Andreessen Horowitz, Peter Thiel’s Valar Ventures and Richard Branson.

Reporting by Patrick Graham, editing by Louise Heavens

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