Disappointing revenue and slowing growth in the volume of transactions on its platform have dealt a blow to the fortunes of Wise.
The payments company revealed that its fourth-quarter revenues had grown by 24 per cent year-on-year to £277.2 million, but that was a smaller than had been forecast in the City. Similarly, the volume of cross-border transactions handled by Wise climbed by 14 per cent to £30.6 billion in the three months to the end of March, yet this was less than the £31.6 billion that had been expected by analysts and represented a slowdown from the 16 per cent rise enjoyed by the group in the third quarter.
As a result, shares in the financial technology group tumbled by 9.9 per cent, or
