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In addition, 2010-founded TransferWise has been profitable since sometime in 2017, and 2005-founded Klarna has been profitable pretty much from day one but posted its first loss last year as it invested into global expansion. The much younger Revolut continues to be loss-making, prioritising growth above all else — but is reportedly aiming for profitability by the end of this year.
Both Klarna and Revolut reached their latest valuation via significant new primary funding — $460 million and $500 million, respectively. TransferWise achieved this latest uplift off the back of secondary private markets only, and did the same in May 2019 after a $292 million secondary round that saw investors value the company at $3.5 billion. That was more than double the valuation TransferWise achieved in late 2017 at the time of its $280 million Series E round.
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However, he denied any characterization claiming Facebook used such tactics in an anti-competitive way —
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