The company reported this before trading on Wednesday. At the beginning of last year, De Telegraaf announced its plans to list on the stock exchange. At the time, WeTransfer was worth €1 billion when it was listed.

WeTransfer was founded in 2009 by Ronald Hans, Rinke Visser and Bas Berens out of frustration with the fact that sending heavy files often gets stuck at the maximum file size that emails can handle and there was no easy and free way to continue sending large files.

CEO George Willoughby has been talking about an initial public offering of his company since 2016 and previously stated that 2021 is the year that should happen.

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The company said in a statement that the company aims to raise 160 million euros through the issuance of new shares, which it intends to invest in further growth, acquisition and development of new products. In addition, existing shareholders, including investors Highland and HPE Growth, and employees will sell the shares for an undisclosed amount. No stock price has been released or an estimate of what the company will be worth on the stock exchange.

WeTransfer has also continued to grow strongly in the past year with revenue reaching 68% higher than the previous year’s level of €72 million in the first nine months. Operating profit grew 30% to €21 million.