Company Directory / Transferwise Ltd

Business Description

"The fast, fair new way to transfer money between countries. Send money with the real exchange rate.

Sending money abroad is deceptively expensive, thanks to the hidden charges we’ve all been forced to pay. The banks claim “free money transfers”, “0% commission.” Sounds like money’s already flowing freely, but far from it. It’s pure propaganda.

TransferWise removes all the wrongness, letting people send money abroad at the lowest possible true cost. Using only real exchange rates and tiny not-hidden-fees. Headaches averted, and a revolution sparked.

Taavet Hinrikus and Kristo Käärmann are two friends who believe that money is meant to flow freely. But in the absence of a global currency, it doesn’t. An epiphany saved them thousands of pounds.

Taavet had worked for Skype in Estonia, so was paid in euros, but lived in London. Kristo worked in London, but had a mortgage in euros back in Estonia. They devised a simple scheme. Each month the pair checked that day’s mid-market rate on Reuters to find a fair exchange rate. Kristo put pounds into Taavet’s UK bank account, and Taavet topped up his friend’s euro account with euros. Both got the currency they needed, and neither paid a cent in hidden bank charges.

“There must be others like us," the epiphany went.

And the rest is TransferWise.

Revolutionaries Needed
We’re not a bank. Not even close. In fact, we’re pretty much the opposite. We’re flipping a gazillion dollar industry on its head. And we’re looking for revolutionaries. See open positions

FOUNDERS

Kristo Käärmann, Executive Founder ….is in charge of all operations activities, technology, development, compliance and regulatory issues. At PwC and Deloitte, he helped banks and insurers bring their processes and systems into the 21st century. But stunned by the inefficiency of financial institutions, he wanted to do more.

Taavet Hinrikus, Founder, CEO …..looks after marketing, product development, PR, and investor relations. As Skype's first employee, he helped build a company that has changed hundreds of millions of lives. He’s since helped various companies as an angel investor and advisor.

INVESTORS
TransferWise is backed by a fantastic team of smart investors who believe that there’s a dire need for innovation in financial services. In addition to great institutional investors, we’re supported by private individuals who founded or are building Virgin, PayPal, Skype, Betfair, Simple.com and others."

Registered Address

6th Floor, Tea Building
56 Shoreditch High Street
London
E1 6JJ

Contact Details

Previous Names

NamePeriod
EXCHANGE SOLUTIONS LTD 2010-03-31 - 2012-08-03

Key Data

Company Number
07209813
Type
Private Limited Company
Company Age
10 years
Incorporated
March 31, 2010
Status
Active
Nature of Business
64999 - Financial intermediation not elsewhere classified
Year End
March 31
Accounts Due
December 31, 2020
Latest Accounts
March 31, 2019