Wise planning aggressive North American expansion in 2022

Karthik Subramanian

Wise, one of the largest payment technology companies that are looking for different and easier ways to move money around the world, has announced that it would be looking to rapidly ramp up its team and its services in the North American region in 2022.

The focus on this region comes amidst the news that its business in this region has grown by 29% to £54.2 million in the half-year that ended on September 30, 2021, and this increase in revenue has given the signal that the company needed for its expansion.

Wise Looking to Ramp Up

The company would be looking to hire more than 150 people across its locations in the region and looks to grow its workforce by over 1,000 all around the world in 2022. This market has always been a very difficult and competitive market for any business to enter into, in the fintech sector, but the fact that Wise has been able to grow shows that the opportunity is available for those who are ready to take it.

“North America is a critical region for us as we continue to see demand and interest from people and businesses looking to move money instantly, conveniently, transparently, and without hidden fees,“ said Harsh Sinha, Chief Technology Officer, Wise. ”Our expansion plan demonstrates our commitment to addressing those needs, and represents a significant step forward in our regional growth strategy.”

Multiple Partnerships in the NA Region

This growth has also been fuelled by the range of partnerships that Wise has been able to enter into in this region including those with Google Pay, Payfare, and others and it had also managed to launch its Wise card which has also found some good traction. It should also be mentioned that the payments and remittances industry around the world has seen some strong growth over the last year or so due to the pandemic which forced people to stay indoors and use digital payments for even their basic needs.

This has created a habit among the users to rely on such payment service providers which have, in turn, helped companies like Wise to improve on their transaction volumes and this ongoing trend is expected to continue for the next few years at least. For well-entrenched businesses like Wise which have a long track record and also a strong userbase, the job has been made easier as they would just need to make sure that they ride the wave.

Read this next

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.

Retail FX

TradingView integrates first Brazilian broker, Órama Investimentos

Órama offers all kinds of investment products, from fixed income to crypto-related funds.

Digital Assets

TRON approves Wintermute to mint, burn USDD stablecoin

TRON Reserve DAO has welcomed crypto market-making giant Wintermute as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

Metaverse Gaming NFT

Nas Academy and Invisible College introduce innovative model for Web3 education

Singapore-based online learning platform, Nas Academy is joining forces with Invisible College to teach people everything they need to know about the Web3.

<