Wirex is a next-generation payments platform that enables customers to buy, hold, exchange and sell multiple crypto and traditional currencies from one app. The company launched one of the world’s first crypto-enabled debit cards and an early crypto rewards scheme. It serves 3.1 million customers and has been rolling out product updates, including five new currencies in Eastern Europe. Wirex completed a record equity crowdfunding campaign on Crowdcube, raising significant capital quickly and exceeding its target by 370%. The raise will support a product overhaul that includes a multi-currency Mastercard and an upgraded rewards scheme. The company is also planning international expansion with launches in the US and Japan as it aims to democratise access to cryptocurrency. Wirex operates platforms that enable customers to instantly exchange bitcoin and other virtual currencies for U.S. dollars, euros, or UK pounds and load that legal tender onto prepaid cards. Those cards function on Visa and MasterCard networks worldwide, including ATMs and member merchants. The company reports over 500,000 members in 130 countries and maintains offices in London, Tokyo, and Kiev. Wirex was founded in December 2014 and is led by Pavel Matveev and Dmitry Lazarichev. It raised £2.45m (approx. $3m) in funding and intends to use the proceeds to launch a contactless card.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2020