Shares of cross-border payments company TransferWise are set to change hands in a sale that could boost its current $1.2 billion valuation.
The sale, first reported by Sky News, is part of a series of transactions by London-based venture capital company Draper Esprit.
The company’s new stake in TransferWise is part of Draper’s acquisition of funds from early-stage investor Seedcamp, from which Draper has bought two investment funds.
The move reportedly will increase TransferWise’s valuation to about $1.6 billion.