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Wednesday 29 July 2020

Draper Esprit exits TransferWise with a smile

logoLondon-headquartered, pan-European tech investor Draper Esprit took advantage of the just-announced $319m secondary share sale by UK fintech star TransferWise, exiting the nine-year-old start-up with another £18m in the bank, some £3m above book value. This adds to the £15m that Draper Esprit had previously realised from its investment in TransferWise, for which it became a backer when the VC acquired Seedcamp Funds I and II in October 2017 (see Draper Esprit goes shopping to sow seeds).

Good to see that new CEO Martin Davis seems to have the same canny sense of when to sell as well as when to buy as his predecessor (see Draper Esprit cooks up new CEO).

Posted by: Anthony Miller

Tags: FinTech   exit  

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