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TransferWise

TransferWise

TransferWise is a company that offers money transfers services founded by Kristo Käärmann and Taavet Hinrikus.

TransferWise offers their money transfer services to private individuals and businesses, and allows them to send money internationally. The company was founded in 2011, in London, England, United Kingdom.

Their services are designed to be border-less for expats, freelancers, and travelers, and they currently hold over £2 billion in deposits. The company allows users to hold over fifty currencies at once and to convert them at any time. They also offer a TransferWire debit MasterCard. The company offers users a multi-currency account which allows them to receive money with international bank details and track the transactions. The debit card can also be used on Apple Pay.

A transaction is started with a free user registration. When the user decides on the amount they wish to send, TransferWise provides the fee amount and when the money should arrive. Next, the user adds the bank details of the recipient, which can also be requested, and identification is verified. The sender then pays for the transfer, and TransferWise finishes the transaction while providing updated notifications.

Timeline

May 22, 2019
$292 million secondary sale of shares.
May 22, 2019
TransferWise raises a $292,000,000 series E round from Lead Edge Capital.
November 2017
$280m Series E

Brought the company to a post-money valuation of just under $1.6 billion.

May 13, 2013
TransferWise raises a $6,000,000 series A round from IA Ventures, Index Ventures, Kima Ventures, SV Angel, Seedcamp, The Accelerator Group and Valar Ventures.
April 2012
TransferWise raises a $1,300,000 seed round from IA Ventures, Index Ventures, Kima Ventures, Max Levchin, Seedcamp and The Accelerator Group.
August 1, 2011
TransferWise raises a $72,075 seed round from Seedcamp.

Funding Rounds

Patents

Further Resources

Title
Author
Link
Type
Date

Send money abroad with Wise

Web

May 4, 2021

The mistake that led to a £1.2bn business

Web

Wise Mission Update 2021 Q4

Web

January 19, 2022

News

Title
Author
Date
Publisher
Description
Reuters
July 9, 2021
The Hindu
Wise, a cross-border payments firm formerly known as TransferWise, made its market debut on Wednesday, becoming the biggest tech company to list on the London stock exchange.
Omar Faridi
June 2, 2021
Crowdfund Insider
UK Fintech Wise introduces remittance payments services in India, as company expands operations with Mumbai office.
Isabel Woodford
February 24, 2021
Sifted
Since stepping aside as TransferWise's CEO, Taavet Hinrikus has turned his attention to investing in startups -- and he's on a roll.
Freya Pratty and Amy Lewin
February 22, 2021
Sifted
British payments group TransferWise is changing its name to Wise, aiming to show that it's not 'just' a money transfer company anymore.
Steve O'Hear
February 22, 2021
TechCrunch
"Ten years in, TransferWise is now Wise," screams the press release that landed in my in-box late last week. The fintech giant, most recently valued by private investors at $5 billion, is re-branding ahead of an expected IPO. Of course, the company doesn't actually make reference to a public listing -- for regulatory reasons, it [...]
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References

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