File-sharing giant WeTransfer in talks with banks about bumper float | Business News


The file-sharing service WeTransfer is joining the queue of European technology companies lining up to go public with plans for a stock market flotation in the coming months.

understands that WeTransfer is in talks to appoint investment banks to oversee an initial public offering (IPO) that is likely to take place in Amsterdam.

The Netherlands-based company offers a number of content-sharing and presentation apps in addition to its core offering, which allows tens of millions of users to share large digital files.

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WeTransfer is said to have seen a further surge in demand since the start of the coronavirus pandemic as hundreds of millions of people shifted to remote working.

Sources said that advisers were likely to be hired to work on the IPO in the coming weeks, although its size and precise timing were unclear on Tuesday.

WeTransfer is the latest in a string of tech ‘unicorns’ preparing to float on the back of a COVID-19-inspired jump in revenues.

Deliveroo, the online greeting cards retailer Moonpig and TransferWise are all working with bankers on plans to go public in London.

Run by Gordon Willoughby, WeTransfer’s investors include Highland Europe, a leading early-stage investor.

The company raised its Series A funding round in 2015, and undertook a €35m secondary share sale in the summer of 2019.

The deliveroo app
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Deliveroo has been working on plans to go public in London

WeTransfer did not respond to a request for comment.



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