![\"Wise_Cofounders\"](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/1749165790_342_960x0.jpg\")
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Wise cofounders Kristo Kaarmann and Taavet Hinrikus.<\/p>\n
Courtesy of Wise<\/p>\n
London\u2019s beleaguered stock market is losing its grip on a \u201cfabulous\u201d fintech listing and others may follow.<\/p>\n
Wise announced on Thursday that it\u2019s planning to list its shares in the U.S. The money transfer firm said it will maintain a secondary listing on the London Stock Exchange, while the U.S. will become its primary listing. The move is aimed at attracting more investment and boosting the firm\u2019s growth.<\/p>\n
The fintech\u2019s billionaire cofounder and CEO, Kristo Kaarmann, said the listing move would help \u201cdrive greater awareness of Wise in the U.S., the biggest market opportunity in the world\u201d for its products, and it would also enable greater access to the \u201cworld\u2019s deepest and most liquid capital market.\u201d<\/p>\n
\u201cA dual listing would also enable us to continue serving our U.K.-based owners effectively, as part of our ongoing commitment to the U.K. The U.K. is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here to fuel our U.K. and global growth.\u201d<\/p>\n
A Treasury spokesperson said, \u201cWise has said it will continue to invest in the U.K., which is home to some of the world\u2019s best talent in financial services.<\/p>\n
\u201cThe U.K. is Europe\u2019s leading hub for investment and, through overhauling listing rules and creating a new stock exchange for private companies, we are driving reform to make the U.K. the best place for businesses to start, scale and list.\u201d<\/p>\n
Shadow business secretary Andrew Griffith swiftly responded to the news, describing Wise as a \u201cfabulous U.K. fintech,\u201d while blaming the Labour government for its decision to shift its listing.<\/p>\n
\u201cCombined with Revolut\u2019s Paris move and millionaires fleeing London this is a devastating verdict on the U.K. socialist government\u2019s culture war against wealth creators,\u201d Griffith said in a post on X.\u201d<\/p>\n
Last month, Revolut said it would open a new office in Paris as part of its expansion across western Europe that will see it invest $1.1 billion over the next three years and create 200 new jobs in the French capital.<\/p>\n
Although Revolut said its global headquarters would remain in London, billionaire cofounder and CEO Nik Storonsky<\/a> has said previously<\/a> that it\u2019s \u201cjust not rational\u201d to list in London under the current conditions.<\/p>\n Last month, Emma Reynolds, economic secretary to the Treasury, and Julia Hoggett, CEO of the London Stock Exchange, had met with executives from a number of firms, including ClearScore, Monzo, OakNorth and Revolut, in the hopes of convincing them to list in London, according to a Sky News report<\/a>.<\/p>\n The Treasury said it doesn\u2019t comment on speculation around meetings, and the London Stock Exchange did not immediately respond to a request for comment.<\/p>\n Nonetheless, today\u2019s announcement is a clear indication that the government\u2019s efforts to revitalize the U.K.\u2019s capital markets are not having their intended impact. London\u2019s stock market has seen a string of companies shift their listings to the U.S. in recent years, including sports betting giant Flutter and building materials company CRH. It also faied to land the initial public offering of Cambridge-based chip designer Arm Holdings, raising doubts as to whether London can host major tech listings.<\/p>\n Wise, formerly known as TransferWise, was the London Stock Exchange\u2019s biggest ever tech listing when it went public in 2021. It currently has a market value of around \u00a311 billion ($15 billion).<\/p>\n