(Bloomberg) -- Wise Plc reported revenue in its fourth quarter that missed analyst estimates as growth in the usage of the money-transfer app slowed. 

Revenue for the period rose 24% from a year ago to £277.2 million ($345 million), the London-based fintech said Tuesday in a statement. That missed the £285.5 million average of analyst estimates compiled by Bloomberg.

Customers used the company’s platforms to move £30.6 billion overseas in the quarter, a 14% increase from a year earlier. That compares with 16% growth in the third quarter. 

Wise shares slumped as much as 12.4% on Tuesday before paring some of those losses. The stock has declined more than 3% this year, compared with the 1.1% advance of the FTSE All-Share Index. 

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