TransferWise lets expats, foreign students and businesses move money globally. The firm’s pricing and operating model are a substantial departure from standard practice in the money transfer sector, providing customers with a lower-cost alternative to traditional means of moving money internationally.
TransferWise was founded in London in March 2010 by Taavet Hinrikus and Kristo Kaarmann. Taavet was part of the small team that started Skype in 2003 and has recently worked with a number of startups as an angel investor and advisor. Kristo had a financial services background from Deloitte and PricewaterhouseCoopers.
Institutional investors include IA Ventures, Index Ventures, Seedcamp and Kima Ventures. Strategic angels include PayPal founder Max Levchin.
TransferWise is licensed and regulated by the UK Financial Services Authority.