Key Partners
- Local banks and payment processors where no direct connection (FACT).
- Banking partners for safeguarding, custody, scheme access (FACT).
- Wise Platform — Itaú, Mandiri, Nubank, Monzo (FACT, 20-F).
- FY26 adds — UniCredit, Raiffeisen, MBSB, Capitec (FACT).
- Accounting integrations — Xero, QuickBooks, FreeAgent (FACT).
Key Activities
- Win licences (80+) and open new markets (FACT).
- Connect to domestic payment systems — Brazil, Japan in FY26 (FACT).
- Single global stack · 4.7M+ transactions a day (FACT).
- Treasury + ML-based compliance (FACT).
- Ship account, card, Assets, Business features (FACT).
Key Resources
- 80+ regulatory licences (FACT).
- Direct connections — over half of FY26 transactions (FACT).
- Single global tech stack; 1,000+ engineers (FACT).
- $39.0B customer holdings · NPS 69 (FACT).
- Brand + Nasdaq/LSE listing (FACT).
Value Propositions
- Real mid-market rate, no FX markup (FACT).
- Fee shown up front before you pay (FACT).
- Fast — 77% instant in Q1 FY27 (FACT).
- Local account details in 40 currencies; global card (FACT).
- Hold, convert, earn via Assets; Wise Business tools (FACT).
Customer Relationships
- Self-serve app/web; sign-up is free (FACT).
- Servicing — in-house + outsourced agents; ML tools (FACT).
- NPS 69 at 31 Mar 2026 (FACT).
- Customers move more money into account — holdings +40% (FACT).
- Platform — B2B relationship with banks (FACT).
Channels
- Word of mouth — ~70% of FY26 new customers (FACT).
- Paid + awareness marketing — $171.8M, +62% (FACT).
- Wise Platform banks embed Wise in their apps (FACT).
- Web + mobile app, sign up free (FACT).
- Accounting integrations for SMBs (FACT).
Customer Segments
- Personal — ~18.0M active customers (FACT).
- Business — ~0.9M active; $70.5B FY26 volume (FACT).
- Business take rate 0.39% vs personal 0.56% (Q1 FY27) (FACT).
- Platform — banks and enterprises (FACT).
- Large transfers get volume discounts (FACT).
Cost Structure
- Transaction expense $513.6M (+36%) (FACT).
- Technology & development $434.3M (+38%) (FACT).
- Servicing $396.6M; G&A $381.9M (FACT).
- Marketing & sales $171.8M (+62%) (FACT).
- US-listing costs — outsourced services in G&A (FACT).
Revenue Streams
- Cross-border fee — take rate 0.52% (FY26) (FACT).
- Card revenue $391.6M; other $245.0M (FACT).
- Interest income $806.1M less $196.9M paid out (FACT).
- Almost 50% of net revenue is non-cross-border (FACT).
- Business fees — 50 GBP set-up, conversion from 0.24% (UK) (FACT).