Wise Group (LSE:WISE) reported net revenue of $714.0 million for the first quarter of its 2027 financial year, up 25% year-on-year, as cross-border payment volumes accelerated across its customer base.
The London and New York-listed money transfer group, which builds infrastructure for moving and managing money across borders, said quarterly cross-border volume rose 26% to $69.3 billion, or 24% on a constant currency basis, while active customers grew 21% to 11.9 million.
Transaction revenue climbed 27% to $540.9 million, and customer holdings increased 31% to $41.2 billion.
The cross-border take rate, the fee Wise charges on transactions, slipped 2 basis points year-on-year to 50 basis points, which the company attributed to reinvesting operating leverage into lower prices for customers.
"These customers paid an average fee of just 50bps, the lowest it has ever been on Wise," said Kristo Käärmann, co-founder and chief executive, adding that 77% of transactions arrived instantly.
Wise reiterated its guidance for the 2027 financial year, targeting net revenue growth around the middle of its 15-20% medium-term range on a constant currency basis, assuming no material change in interest paid to customers or central bank rates.
The company also reaffirmed its income before tax margin guidance of around the top of the 20-25% range.
Wise recently expanded its Latin American offering, enabling customers in Chile to send cross-border payments and top up multi-currency accounts with local instant pay-ins.
