TransferWise

TransferWise

remittances | mobile/online remittance | consumer | business
website linkedin address
  • FOUNDING YEAR: 2011
    LOCATION:
    United Kingdom
    REGION:
    England
    Last Update:
    19 Dec, 2019
    Global presence:
    United States

Description

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.

FOCUS

PRODUCTS & SERVICES:
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.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail consumers and businesses.
EXISTING PARTNERSHIPS:
Currency Cloud, TrucosLondres, and CompareRemit.

PEOPLE

MEDICI analysts will analyze TransferWise soon

TRACTION

VALUATION / MARKET CAP:
$3.5 Billions in 2019
VALUATION COMMENT
After the latest funding round, the company's valuation is at $3.5 billion. (May. 2019)
REVENUE:
$10M+ in 2018
REVENUE COMMENT:
Viewable by subscribers only
TRANSACTIONS VALUE:
$52 Billions in 2019
TRANSACTIONS COMMENT:
In 2019, the company processed average monthly transactions worth $4.41 billion.
ACTIVE USERS COMMENT:
The company has over five million customers and moves £4 billion on behalf of customers each month. (May. 2019)
OTHER INFO:
Currently, the company operates in 72 countries across the world.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$396.37 Millions
DATE OF LAST FUNDING:
2019
SEED & PRIOR FUNDING:
$1.37 Millions
SEED CLOSED ON:
Apr 2012
FUNDING SERIES:
SERIES A
$6 Millions Closed: May 2013
SERIES B
$25 Millions Closed: Jun 2014
SERIES C
$58 Millions Closed: Jan 2015
SERIES D
$26 Millions Closed: May 2016
SERIES E
$280 Millions Closed: Nov 2017
Secondary Market
$292 Millions Closed: May 2019
DEBT FUNDING:
$84.31 Millions
LISTED:
NO

MOST VIEWED RESEARCH


RECENT RESEARCH


Innovation Programmes

Inno Tribe
Inno Tribe
Seedcamp
Seedcamp

You have 2 complimentary company profiles this month.

Subscribe to MEDICI Inner Circle and get unlimited access to company profiles, FinTech insights, deep dives, and more.

BECOME A MEMBER

Get unlimited access to MEDICI Startup Scanner. Become a member.

Related companies

Payza
Payza
Azimo
Azimo
OmanyeMoney
OmanyeMoney