“A smart new way to move money internationally”
Founded: 2010 in London, UK

Category: Financial Technology

Primary office: London, UK

Core technical team: London, UK

Status: Private

Employees: 1600

Amount raised: $772.7 million (10 rounds – May 2019)


  • Online platform that enables people and businesses to complete currency exchange services
  • Enables integration with local payment systems allowing for cross-border exchange services and transactions



  • Valuation – $3.5 billion (2019)
  • Revenue – $148 million (2019 est.)
  • Profit – $7.9 million



  • 7+ million customers around the world
  • 400,000+ monthly app downloads
  • 14.8 million monthly website visits
  • $5 billion transactions monthly
  • Most valuable European fintech startup
  • Saves customers $1.2 billion in banking fees annually
  • Available in 59 countries
  • Fee structure about 10% of banks and independent money transfer giants


  • Money transfer – enables individuals and businesses to send or receive money across borders with transparent costing, using real time currency exchange rates
  • Borderless account – enables users to hold multiple currencies (over 40 currencies) at once that can be converted and used for exchange at any time.
  • TransferWise for Business – similar exchange service with diverse currency and real-time exchange rate, specifically for businesses
  • TransferWise for Banks – customers of banks can access competitive prices on international payments to 70+ countries and 40+ currencies.


  • User-friendly Online platforms (Including web and mobile)
  • AI powered chatbot systems to enable easy customer interactions
  • Third-party website integrations
  • Affiliate program
  • Moves into China with Alipay partnership


  • Founder-led management team
  • Online, real-time reconciliation for both individuals & businesses
  • Highly secured and encrypted platform for cross-border transactions
  • Meeting stringent regulatory standards



  • Proprietary AI algorithm and data with 15 registered trademarks.
  • 1600 employees in 13 offices across 4 continents.
  • Partnership with major banks across various countries


  • Process to raise funds – raised $772.7 million in 10 rounds.
  • Transparent process to facilitate “cross border” currency transactions
  • Peer-to-peer transfers – TransferWise matches transferring money in one direction with people transferring in the other – buying currency from other individuals and hence cutting out substantial “foreign transaction” fees
  • Easy to use Web and mobile platforms.
  • Simplified process for sending money across borders: it should be low-cost and fair; it should be easy; it should be fast
  • Know your customer – follows international requirements for verification of identity


  • Increase footprint globally
  • Improve technical competencies for faster transactions – sending money should be as fast as sending an email.
  • Secure more strategic partnerships in local contexts to increase market share

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Increase value by using a compelling image of the desired future company to convince others to provide the funding and resources the company requires
  2. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  3. Increase demand by using scientific and technological advances to develop innovative products and services
  4. Eliminate communication and coordination barriers when working with foreign partners that are geographically separate, institutionally distant, and operate in different time zones to increase value
  5. Increase profitability by improving links, interactions and shared purpose with local organizations in each region the company operates
  6. Increase profitability by applying processes that make products and services easier to understand, produce and deliver
  7. Increase demand by meeting or exceeding international product and service standards to overcome barriers to trade and position company as a world-class quality supplier
  8. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace



  • Oluwasola Adare
  • Yinka Olanrewaju-Olawepo
  • Dan Craigen