Wise outlined plans to shift its primary listing to the US in June.

Money transfer firm Wise took a hit to profit in the first half of the year amid its move to shift its primary listing to New York.

The fintech darling recorded a 13 per cent reduction in pre-tax profit at £254.6m despite soaring numbers in customers and volume.

Marketing investment increased 59 per cent to £57m whilst tech investment was up 18 per cent to £144m.

Wise said it plans to hire over 1,000 additional colleagues as it bulks up capacity.

It comes after the firm shocked the City this summer after laying out plans to ditch its primary listing in London in favour of New York.

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