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Wise Group PLC (LSE:WISE, NASDAQ:WSE) has kicked off its 2027 financial year with another strong quarter, as more customers turned to the fintech group for fast, low-cost international payments.

The company reported first-quarter net revenue of $714 million, up 25% from a year ago, driven by continued growth in cross-border payment volumes and customer numbers.

Customers transferred $69.3 billion through the platform during the three months to 30 June, a 26% increase on the same period last year, while active customers climbed 21% to 11.9 million. Customer balances also surged 31% to $41.2 billion, highlighting the growing use of Wise's multi-currency accounts.

Transaction revenue rose 27% to $540.9 million, even as the average fee fell to a record-low 0.50%. The lower pricing reflects Wise's strategy of passing on efficiency gains to customers while continuing to grow volumes.

Speed also improved, with 77% of transfers arriving instantly, up from 70% a year earlier.

"We continue building 'the' network for the world's money," co-founder and chief executive Kristo Käärmann said, noting that almost 12 million people and businesses used Wise during the quarter.

The company also expanded into Chile, where customers can now send money abroad and top up multi-currency accounts using local instant payment methods.

Looking ahead, Wise reaffirmed its full-year guidance, expecting revenue growth to remain comfortably within its medium-term target range and profitability towards the top end of its target margin.

Wise PLC (LSE:WISE, FRA:6WS) reported a sharp rise in profit and customer activity in the 2026 financial year and unveiled plans for a new share buyback worth at least $500 million.

The money transfer and payments company said income before tax rose to $660.4 million, giving it a margin of 26%, ahead of its medium-term target range. Net revenue increased 19% to $2.5 billion, at the top end of its long-term growth target.

Growth was driven by a 21% increase in active customers to 18.9 million and a 31% rise in cross-border volumes to $243.5 billion.

The company also continued to expand beyond international transfers. Customer holdings rose 40% to $39 billion, while spending on Wise cards increased 37% to $43.6 billion.

Chief executive and co-founder Kristo Käärmann said: "These investments helped us drive even better customer outcomes and support 19 million people and businesses move $243 billion across the world last year."

During the year, Wise added direct connections to payment systems in Brazil and Japan, secured new licences in South Africa, the UAE and Thailand, and signed new platform partnerships including UniCredit and Raiffeisen Bank.

Wise said it expected net revenue growth in the 2027 financial year to be around the middle of its 15-20% medium-term target range, with its income before tax margin around the top end of its 20-25% guidance range.