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Wise Trading Statement Released : 20/07/2021 RNS Number : 7446F Wise PLC 20 July 2021 Wise ple 20th July 2021 Q1 FY2022 Trading Update " Wise's mission is to make moving and managing money across borders faster , easier , cheaper and more transparent for everyone , everywhere . In the first quarter of this financial year we continued to take important steps forwards towards this goal while also successfully listing Wise on the London Stock Exchange . " We were pleased that in the first quarter of this financial year we were able to reduce pricing by 2bps to 0.67 % , dropping prices for 19 currencies while also delivering 38 % of all transfers instantly . Our financials in that period were in line with our expectations with revenues of £ 123.5m , representing a growth of 43 % YoY compared to Q1 FY2021 . " As we enter the next phase of our growth to tackle the problem of the £ 150 billion the world continues to pay in hidden fees each year , we're focused on doing so reliably and sustainably , so our customers know they can count on us for the long term . " Kristo Käärmann Co - Founder & CEO Mission highlights for Q1 FY2022 We continue to be driven by our mission and were pleased that in the first quarter of this year we were able to reduce our average fees by 2bps to 0.67 % after dropping prices for customers on 19 currencies , while also delivering 38 % of all transfers instantly . Our coverage took an important step forward as we launched in India , allowing Indian residents to send money to 40+ countries at the real exchange rate , with lower and more transparent fees . We also made it more convenient for Wise customers to receive money : over 1 million customers have opted to receive money with just their email address . It is still early in the development of our platform proposition but we are delighted to have recently announced partnerships with Google Pay , Shinhan Bank , Temenos and Thought Machine , allowing many more people and businesses to conveniently access Wise's cheap , fast and transparent international money transfers . See here for access to the full blog post with our Mission Update . Growth and Financial highlights Volume ( £ bn ) ¹ Revenue ( £ m ) Take rate ( % ) ² Q1 FY2022 Q1 FY2021 1. Cross - border volume only 2. Revenue as a % of Volume 16.4 123.5 0.75 % 10.7 86.3 0.81 % YoY Movement 54 % 43 % -6bps Q4 FY2021 15.6 116.9 0.75 % QoQ Movement 5 % 6 % Obps 3.7m customers transacted on Wise in Q1 FY2022 . Despite ongoing lockdowns across many countries worldwide , the number of personal customers grew by 28 % YoY to reach 3.4m . Business customers , who typically use Wise for a broader range of needs such as paying and receiving funds from suppliers , vendors and customers , grew by 56 % compared to the prior year .