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TransferWise

OverviewSuggest Edit

TransferWise is a foreign exchange and money remittance company. It provides a mobile app that enables users to send money abroad at the real exchange rate and track transfers in their accounts. The company serves expats, foreign students, and businesses.
TypePrivate
Founded2011
HQLondon, GBMap
Websitetransferwise.com
Employee Ratings4.4More
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Latest Updates

Employees (est.) (Sept 2020)2,100(+5%)
Revenue (FY, 2020)£302.6 M(+69%)
Cybersecurity ratingBMore

Key People/Management at TransferWise

Kristo Käärmann

Kristo Käärmann

Founder and CEO
Taavet Hinrikus

Taavet Hinrikus

Founder and Chairman
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TransferWise Office Locations

TransferWise has offices in London, New York, Tampa, Collingwood and in 7 other locations
London, GB (HQ)
56 Shoreditch High St, Shoreditch
Collingwood, AU
36-38 Gipps St
Tallinn, EE
Veerenni 24
Chiyoda, JP
Otemachi Building, 1-6-1 Otemachi
Cherkasy, UA
Smilyanska 46, 2nd floor
New York, US
19 W 24th St Floor 9
Show all (12)

TransferWise Financials and Metrics

Summary Metrics

Founding Date

2011

TransferWise total Funding

$1 b

TransferWise latest funding size

$319 m

Time since last funding

4 months ago

TransferWise investors

Kima Ventures, Index Ventures, The Accelerator Group, BlackRock, SV Angel, Sapphire Ventures, Andreessen Horowitz, Mitsui & Co, Lone Pine Capital, Richard Branson, Max Levchin, IA Ventures, ACE & Company, Valar Ventures, Lead Edge Capital, Vitruvian Partners, SeedCamp, Baillie Gifford, Virgin Group, Errol Damelin, Mosaic Ventures, Firestartr, Localglobe, IVP (Institutional Venture Partners), Old Mutual Global Investors, World Innovation Lab, D1 Capital Partners
TransferWise's latest funding round in July 2020 was reported to be $319 m. In total, TransferWise has raised $1 b. TransferWise's latest valuation is reported to be $5 b.
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TransferWise Revenue

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TransferWise's revenue was reported to be £302.60 m in FY, 2020 which is a 69% increase from the previous period.
GBP

Revenue (FY, 2020)

302.6m

Revenue growth (FY, 2019 - FY, 2020), %

69%

Gross profit (FY, 2020)

185.0m

Gross profit margin (FY, 2020), %

61.1%

Net income (FY, 2020)

21.3m

EBIT (FY, 2020)

21.8m

Market valuation

5.0b

Cash (31-Mar-2020)

2.1b

EV

3.0b
GBPFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

66.3m117.3m179.1m302.6m

Revenue growth, %

138%77%53%69%

Cost of goods sold

20.3m39.8m69.7m117.6m

Gross profit

46.1m77.5m109.4m185.0m
show all
GBPFY, 2017FY, 2018FY, 2019FY, 2020

Cash

71.4m301.2m856.1m2.1b

Accounts Receivable

30.4m41.2m88.0m52.1m

Prepaid Expenses

2.3m1.9m5.3m8.5m

Current Assets

110.7m353.8m1.1b2.3b
show all
GBPFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

6.2m6.2m10.3m21.3m

Depreciation and Amortization

2.1m3.9m6.3m20.6m

Accounts Payable

2.4m4.7m4.1m12.2m

Cash From Operating Activities

16.3m190.8m682.7m1.2b
show all
GBPFY, 2017

EV/EBIT

-2 k x

EV/CFO

63.7 x

Revenue/Employee

101.7k

Debt/Equity

0.2 x

Debt/Assets

0.1 x

Financial Leverage

2.6 x
Show all financial metrics

TransferWise Operating Metrics

TransferWise's Customers was reported to be 8 m in Jul, 2020.
Mar, 2017May, 2017Nov, 2017Dec, 2017Q4, 2018Sep, 2018Jan, 2019FY, 2019May, 2019Sep, 2019FY, 2020Jul, 2020

Customers

1 m2 m3 m4 m5 m5 m6 m7 m8 m

Monthly Transactions

800 k

Average Monthly Transaction Volume

£1 b$2 b£2 b£3 b£4 b£4 b£4 b

Countries

42 69 70 70
Show all operating metrics

TransferWise Acquisitions / Subsidiaries

Company NameDateDeal Size
PT TransferWise International Indonesia
TINV Ltd.
TransferWise Australia Pty Ltd
TransferWise Borderless Limited
TransferWise Brasil Correspondente Cambial Ltda.
TransferWise Brasil Corretora de Câmbio Ltda
TransferWise Canada Inc
TransferWise Europe S.A.
TransferWise Hong Kong Limited
TransferWise Inc.
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TransferWise Revenue Breakdown

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TransferWise revenue breakdown by geographic segment: 52.0% from Europe, 26.0% from United States and 22.0% from Rest of the World

Human Capital Metrics

Source: lienzo.s3.amazonaws.com
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TransferWise Cybersecurity Score

Cybersecurity ratingPremium dataset

B

84/100

Learn more about our premium products
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TransferWise Online and Social Media Presence

TransferWise's Trends

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TransferWise News and Updates

April 15, 2017
pinned

Transferwise 'would not set up in London' if launching now

Transferwise 'would not set up in London' if launching nowTaavet Hinrikus, the founder and CEO of money transfer service TransferWise, speaks to Adam Parsons about why London has become a hub for financial technology but explains why he wouldn't choose to headquarter his firm here if he was launching it today.
January 26, 2015
pinned

How The Founders Of TransferWise Came Up With The Idea For Their Billion-Dollar Company

How The Founders Of TransferWise Came Up With The Idea For Their Billion-Dollar CompanyThe London money-transfer startup TransferWise is now worth nearly $1 billion, a huge milestone for any tech startup — especially in Europe.
November 06, 2020

Unqork and TransferWise join Finxact marketplace

Finxact, the leader in Core as a Service banking, is spear-heading the transition in the United States to a model of core banking that combines the benefits of cloud with the ability for banks to readily select among best-in-class technology providers.
November 05, 2020

HSBC to launch Transferwise rival

HSBC is taking on the likes of Transferwise and Revolut with the launch of Global Money Account, a free mobile-based service that customers can use to hold, manage and send funds in various currencies to HSBC customers in over 20 markets around the clock in real-time without incurring any fees.
October 21, 2020

Emburse streamlines international expense reimbursements with TransferWise

Emburse, a global leader in expense management and accounts payable automation, announces the launch of Emburse Global Reimbursements.
October 02, 2020

TransferWise revs up in Singapore

You can now receive SGD straight into your TransferWise account — just like a local could.
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 TransferWise Frequently Asked Questions

  • When was TransferWise founded?

    TransferWise was founded in 2011.

  • Who are TransferWise key executives?

    TransferWise's key executives are Kristo Käärmann and Taavet Hinrikus.

  • How many employees does TransferWise have?

    TransferWise has 2,100 employees.

  • What is TransferWise revenue?

    Latest TransferWise annual revenue is £302.6 m.

  • What is TransferWise revenue per employee?

    Latest TransferWise revenue per employee is £144.1 k.

  • Who are TransferWise competitors?

    Competitors of TransferWise include WorldRemit, Revolut and Western Union.

  • Where is TransferWise headquarters?

    TransferWise headquarters is located at 56 Shoreditch High St, Shoreditch, London.

  • Where are TransferWise offices?

    TransferWise has offices in London, New York, Tampa, Collingwood and in 7 other locations.

  • How many offices does TransferWise have?

    TransferWise has 12 offices.