TransferWise

remittancesmobile/online remittanceconsumerbusiness

FOUNDING YEAR: 2011
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

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

TransferWise generates revenue from the transaction fees. It charges 0.5–0.7% of the transaction amount.

MAIN CLIENTS

Retail consumers and businesses.

EXISTING PARTNERSHIPS

Currency Cloud

TrucosLondres

and CompareRemit.

Traction

VALUATION / MARKET CAP:

$3.5 B 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:

In 2018, the company generated annual revenue of ~$150 million with a profit of $8 million.

TRANSACTIONS VALUE:

$52 B 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.

People

FOUNDERS

Taavet Hinrikus

Kristo Kaarmann

BOARD MEMBERS AND ADVISORS

Taavet Hinrikus

Andrew McCormack

Kristo Kaarmann

Roger Ehrenberg

NUMBER OF EMPLOYEES

1000+

INVESTORS:

and Baillie Gifford.

Andreessen Horowitz

Firestartr

IA Ventures

Index Ventures

JPMORGAN

Kima Ventures

LHV

NatWest

Richard Branson

Seedcamp

SV Angel

Valar Ventures

KEY EMPLOYEES:

Matt Briers (CFO)

Momentum

FUNDED

YES

TOTAL FUNDING

$396.37 M

DATE OF LAST FUNDING

2019

SEED & PRIOR FUNDING

$1.37 M

SEED CLOSED ON

Apr 2012

FUNDING SERIES

SERIES A  · $6 M  · May 2013

SERIES B  · $25 M  · Jun 2014

SERIES C  · $58 M  · Jan 2015

SERIES D  · $26 M  · May 2016

SERIES E  · $280 M  · Nov 2017

SECONDARY MARKET  · $292 M · ---

DEBT FUNDING

$84.31 M

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2011

LOCATION:

United Kingdom

Views:

650 VISITORS | 1105 VIEWS
LATEST FUNDING ROUND

$396 M

TOTAL EMPLOYEES
1000+

About

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.

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Traction+
People+
Other+

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