TransferWise co-founders Kristo Käärmann and Taavet Hinrikus.
LONDON — TransferWise, one of Europe’s most valuable private financial technology firms, just posted its fourth consecutive year of profitability.
The online money transfer service said Wednesday that its net profit more than doubled to £21.3 million ($27.1 million) in the fiscal year ending March 2020. Annual revenues came in at £302.6 million, TransferWise said, up almost 70% from the previous year.
TransferWise’s annual accounts have been in the black since 2017, a rare display of sustainable growth in the fintech sector. Other start-ups in the space have reported deepening losses due