Wise (formerly TransferWise)

Overview & Vision

Wise, formerly known as TransferWise, is a leading UK-based fintech startup specializing in international money transfers and cross-border payments. The company’s mission is to make global money movement fast, cheap, transparent, and hassle-free, challenging the high fees and hidden costs of traditional banks.

History & Growth

Wise was founded in 2011 by Taavet Hinrikus (Skype’s first employee) and Kristo Käärmann, after both experienced frustrations with international money transfers.

Key milestones:

2011 – TransferWise officially launched in London.
2014 – Expanded across Europe, backed by investors like Sir Richard Branson.
2017 – Introduced the borderless account, enabling multi-currency management.
2021 – Rebranded from TransferWise to Wise, reflecting broader services.
2021 – Listed on the London Stock Exchange with a valuation of $11 billion.
2023 – Serving 16+ million customers worldwide, transferring billions each month.

Products & Services

International Money Transfers – Low-cost, transparent, and near real-time transfers in 70+ countries.
Wise Account – Multi-currency account supporting 50+ currencies.
Wise Debit Card – Spend globally at real exchange rates with minimal fees.
Wise Business – Cross-border solutions for SMEs and freelancers.
Wise Platform – API integration for banks and enterprises to embed Wise services.

Innovation & Market Leadership

Wise sets itself apart by:

Using real mid-market exchange rates with transparent fees.
Offering multi-currency accounts for individuals and businesses.
Providing speed and efficiency, with many transfers completed instantly.
Building a regulatory-compliant global network, licensed in multiple regions.

Customers & Reach

Wise has built one of the most trusted brands in cross-border payments:

16+ million customers globally.
Transfers over £9 billion each month.
Business clients across 170+ countries.

Culture & Impact

Wise champions financial transparency and fairness, challenging banks that overcharge customers with hidden markups. The company has also pioneered remote-first working