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Were making a positive, irreversible change in the world of finance. Together.People on every continent around the world are choosing TransferWise to help them live, travel and work internationally. Were the fairest, easiest way to send money overseas.Built by and for people who live global lives, we make sending money abroad up to 8 times cheaper than the bank. This is money without borders - instant, convenient, transparent and eventually free.For our customers, using TransferWise is as simple as sending money from A to B, but behind our app and website is a complex engine of currencies and routes, thats being designed, built and powered by our talented teams in cities around the world. Were just at the beginning of our story and were growing at an incredible pace. We wont stop until anyone, anywhere can send, spend and receive money wherever they are, whatever theyre doing. Theres still heaps to do and we cant do it alone.
TransferWise is a peer-to-peer money transfer service that allows foreign students and businesses to transact 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. Recently, TransferWise was selected for the 2019 Forbes Fintech 50 startups list.
The company provides an online money transfer money mobile application which allows users to transfer money to abroad, convert money into other 28 different currencies, pay bills in another country, pay off for mortgage or loan abroad, etc. It has also built a borderless account which helps them to hold over 40 different currencies and send as well as spend money overseas with the contactless TransferWise debit Mastercard.
TransferWise generates revenue from the transaction fees. It charges 0.5–0.7% of the transaction amount.
Retail consumers and businesses.
$3.5 B in 2019
After the latest funding round, the company's valuation is at $3.5 billion. (May. 2019)
$10M+ in 2018
In 2018, the company generated annual revenue of ~$150 million with a profit of $8 million.
$52 B in 2019
In 2019, the company processed average monthly transactions worth $4.41 billion.
The company has over five million customers and moves £4 billion on behalf of customers each month. (May. 2019)
Currently, the company operates in 72 countries across the world.
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