Wise grew active customers 21% as cross-border volume topped $69 billion for the quarter

Wise plc reported net revenue of $714.0 million for the first quarter of fiscal year 2027, the period ended June 30, 2026, up 25% from a year earlier. Active customers grew 21% to 11.9 million, cross-border volume processed through the platform reached $69.3 billion, and total customer holdings — money customers keep parked in Wise accounts rather than transferring out immediately — reached $41.2 billion.

The customer-holdings figure is worth pausing on. Wise built its reputation as a cheaper, more transparent way to send money across borders, but $41.2 billion sitting on the platform signals something more: customers increasingly treat Wise as a place to hold multi-currency balances between transfers, not merely a pipe to move money through. That shift matters for the business because idle balances can generate interest income and deepen the relationship beyond a single transaction, a dynamic other cross-border and neobank players have leaned into as well.

Revenue growing faster than active customers (25% versus 21%) suggests Wise is also increasing revenue per customer, whether through higher transaction volume per user, uptake of its card and holding products, or business-customer growth, which tends to carry larger transfer volumes than individual remittances. Cross-border volume of $69.3 billion in a single quarter underscores the scale Wise has reached in a market that includes traditional bank wire transfers, dedicated remittance companies, and increasingly cross-border features bolted onto broader fintech platforms.

Wise operates in a segment where trust and regulatory licensing across many countries function as a genuine moat — the company holds transfer and banking licenses across dozens of jurisdictions, which is slow and expensive to replicate. The quarter’s combination of double-digit customer growth, revenue growth outpacing it, and a large and growing base of parked customer balances points to a company still expanding its core transfer business while building the stickier, deposit-like relationship that could support it over time.