Money transfer firm Wise has raised its revenue growth outlook after strong customer growth and higher cross-border transaction volumes boosted second-quarter revenue.
Wise reported net revenue of $739.1 million for the second quarter of fiscal 2027, the three months ended September 30, up 21% from a year earlier. Cross-border payment volumes rose 22% to $71.7 billion, active customers increased 20% to 12.5 million, and customer holdings climbed 28% to $43.5 billion.
The cross-border take rate, a measure of revenue earned from each dollar transferred, fell to 0.49% from 0.52% a year earlier as the company cut prices to attract new customers.
Wise now expects fiscal 2027 net revenue growth near the upper end of its 15% to 20% target range and maintained its income-before-tax margin outlook near the top of its 20% to 25% range. The update reflects rising demand for low-cost international payments as consumers and businesses move more money across borders.
Wise's US growth ambitions suffered a setback in July after regulators denied its application to create a national trust bank. The company said it intends to reapply for the licence.