Wise has become the latest company to step away from the London Stock Exchange after the fintech firm announced it is moving its primary listing to the US.

The money transfer group, which confirmed it would still dual list its shares in both the US and UK, said its move in favour of the US would help “accelerate its mission” and bring “substantial strategic and capital market benefits”.

Wise made the announcement while publishing its latest annual results for the 12 months to 31 March. The group’s latest figures revealed a 15% year-on-year increase in revenue to £1.21bn, and a 17% jump in underlying pre-tax profit to £282.1m.

The group also confirmed plans to commit £2bn worth of investment over the next two years, across infrastructure, marketing and products, as part of a move to “capture even more of the substantial opportunity that exists for Wise”, it said.

In its outlook, Wise also said it would maintain its medium-term guidance and is expecting to be in the top range of its underlying pre-tax profit margin of 13-16% for the 2026 financial year.

Wise CEO, Kristo Käärmann, said: “We believe the addition of a primary US listing would help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners.

“These include helping us drive greater awareness of Wise in the US, the biggest market opportunity in the world for our products today, and enabling better access to the world's deepest and most liquid capital market.

“A dual listing would also enable us to continue serving our UK-based owners effectively, as part of our ongoing commitment to the UK. The UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here to fuel our UK and global growth.”

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