Investors including BlackRock, the world’s largest fund manager, have taken part in a private share sale by TransferWise that has doubled the value of the payments start-up to $3.5bn.

BlackRock joined growth investors Lead Edge Capital, Lone Pine Capital and Vitruvian Partners in taking a new position in TransferWise, according to a statement on May 22. Baillie Gifford and venture capital firm Andreessen Horowitz increased their existing holdings.