May 19, 2020

Top 10 fintech disruptors

Matt High
5 min

Unlike banks, which often have high charges for overseas transfers, Transferwise doesn’t. That’s the premise that founders Kristo Käärmann and Taavet Hinrikus - who, incidentally, was the first employee at Skype - formed the business under, driven by their own experiences with transferring money between Estonia and London. It’s worked. The business has grown rapidly since, with around six million customers reportedly sending more than US$4bn each month through its platform. Transferwise uses machine learning technology to create a world for “people without borders”. For transfers, it charges the day’s bank exchange rate, offering the best possible rate; customers can receive money with international bank details, track transactions via mobile notifications and spend with a free debit Mastercard.


HQ: London, UK

Market Valuation: US$3.5bn

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