Wise Revenue Misses Estimates as Payment Volume Growth Slows.

Wise Plc, a London-based fintech company, reported lower-than-expected revenue in the fourth quarter due to slower growth in the usage of its money-transfer app. Revenue for the period increased by 24% to £277.2 million ($345 million), missing analyst estimates of £285.5 million. Customers moved £30.6 billion overseas using Wise's platforms, a 14% increase from the previous year, but slower than the 16% growth in the third quarter. Wise shares initially dropped by 12.4% but later recovered some of the losses. [Extracted from the article]