“British digital money transfer service Wise saw a significant surge in profits during the first half of its 2025 financial year. Crediting this growth to an upturn in customer numbers and an extended market share, the company witnessed a 55% increase in profits.

The profits for Wise’s first half of the fiscal year reached £217.3 million, a leap from the £140.6 million recorded during the same period in the previous year. The reason behind this increase? A 25% rise in active customers. The company currently boasts of a clientele of 11.4 million, including both individual and business customers.

Wise’s revenue also followed a similar trend with a 19% year-on-year rise during this period, reaching £591.9 million. However, earlier this year, the firm experienced a drop in shares by up to 21% following a sales warning.

In June, the fintech giant predicted a 15-20% growth in underlying annual income for its 2025 fiscal year, a figure considerably lower than the 31% growth rate achieved in the year ending in March 2024. This prediction followed a series of price reductions.

Despite these challenges, Wise reported a 17% rise in underlying income for the second quarter of 2024. The company expects to achieve an underlying pre-tax profit (PBT) margin of 13%-16% in the medium term and has no plans for “further significant investments in reduced pricing” in the second half of the year.

Wise’s underlying PBT margin for the first-half period was 22%, surpassing its target range of 13%-16%. Still, the company expects that investments made in price reductions will bring that margin closer to its target range for the second half of its 2025 fiscal year.

In other news, last week, the UK’s Financial Conduct Authority imposed a fine of £350,000 on Kristo Käärmann, the billionaire CEO and co-founder of Wise, for not reporting a problem with his tax filings.”