TransferWise
Unicorn · $18.5BMexico, MX · 4 known investors
Wise provides online money transfer services, allowing users to send money from Mexico to 140+ countries with transparent exchange rates and low fees. The company specializes in international remittances and cross-border payments with real-time exchange rates.
Also known as TransferWise Ltd · Wise · Wise plc · Wise PLC
Founders & leadership
Investors · 4
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 22
launches, deals, and filingsThe Bureau of Investigative Journalism reported Wise platforms were suspected of involvement in around £432m of suspicious transactions across 30 European countries; Belgian prosecutors subsequently said Wise was under investigation over suspicions criminals used its accounts for money laundering.
Wise announced customers may have been affected by a data breach at partner bank Evolve Bank & Trust.
The Financial Conduct Authority reported CEO Kristo Käärmann was included on a list of individuals penalised for deliberate default on tax affairs; he remained listed for 12 months from September 2021 after reportedly failing to pay £720,000 for the 2017-2018 tax year.
Wise went public via a direct listing on the LSE and was valued at $11 billion.
$11B source ↗
A prospectus published by the company announced co-founder Taavet Hinrikus would step down as chair within a year, replaced by David Wells.
The company rebranded to Wise and launched a new website domain, reflecting product expansion beyond international money transfer.
TransferWise received authorization from Brazil's Central Bank to operate as a foreign exchange broker, accelerating its business in the country.
TransferWise and UK fintech GoCardless partnered to launch an international recurring payments network covering 30 countries.
TransferWise launched a US-based debit card targeted at international travelers, immigrants and freelancers.
The Bank of England enabled TransferWise to become the first non-bank direct member of the Faster Payments scheme via access to a Bank of England settlement account.
After suspending Nigeria support in 2016 due to currency instability, TransferWise returned in October 2017 by partnering with local entity Flutterwave to share risk and revenue.
TransferWise introduced a Borderless Account aimed at people and companies doing business across national boundaries.
TransferWise launched in Canada in spring 2016 and within a year was transferring $2 billion, approaching a 10% share of the country's outbound cross-border market.
TransferWise initially partnered with PreCash in 2014 to offer US services; PreCash was later fined $150,000 for working with TransferWise. In 2015 the company partnered with CFSB.
The company stopped letting users buy Bitcoin, citing pressure from banking providers.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- TransferWisetransferwise.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does TransferWise do?
- Wise provides online money transfer services, allowing users to send money from Mexico to 140+ countries with transparent exchange rates and low fees. The company specializes in international remittances and cross-border payments with real-time exchange rates.
- Who founded TransferWise?
- TransferWise was founded by Kristo Käärmann, Taavet Hinrikus.
- Who are TransferWise's investors?
- TransferWise's investors include Felicis Ventures, Firestartr, Sapphire Ventures, Baillie Gifford.
- Where is TransferWise headquartered?
- TransferWise is headquartered in Mexico, MX.