Asset Management

BlackRock backs TransferWise as start-up’s value hits $3.5bn

Existing investors Baillie Gifford and Andreessen Horowitz also increased holdings in $292m share sale

Investors including BlackRock, the world’s largest fund manager, have taken part in a private share sale by TransferWise that has doubled the value of the payments start-up to $3.5bn.

BlackRock joined growth investors Lead Edge Capital, Lone Pine Capital and Vitruvian Partners in taking a new position in TransferWise, according to a statement on May 22. Baillie Gifford and venture capital firm Andreessen Horowitz increased their existing holdings.

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