附近上门

Morning Report: TransferWise posts quickly expanding revenue and something that looks like profit. Let’s explore.

When the correction inevitably comes, it seems that at least one yet-private unicorn won’t instantly vaporize.

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, a London-based money-transfer startup, had its recent financial performance , yielding a host of new details. To wit, the core bits:

• Fiscal 2016 revenue:聽拢28 million.
• Fiscal 2017 revenue:拢67 million (+139 percent).
• On track for “120 million pounds in revenue this year,” (+79 percent).
• Fiscal 2017 operating loss of聽拢56,o00.
• Fiscal 2017 EBITDA聽拢2 million.

TransferWise’s growth and now near-profit came at a cost — the firm has — but likely one that few mind. The firm’s rapid revenue growth and break-even operations are notable for their health, at least as far as we can determine from a few data points.

Sixty-seven million euros, or $88.4 million, is IPO-territory, of course, making TrasnferWise an obvious flotation candidate. However, TransferWise’s total funding tally of nearly $400 million is nearly misleading. The firm raised $280 million of the whole earlier this month, or just around 70 percent.

So TransferWise is incredibly well-capitalized for a private company on the cusp of profit while still comfortably in its growth phase. With that in mind, I’d wager an IPO is a ways off.

Still, a nearly-profitable unicorn!

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