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. TransferWise lets expats, foreign students and businesses move 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.

Company Growth (employees)
London, GB
Size (employees)
600 (est)+37%
Transferwise was founded in 2010 and is headquartered in London, GB

Key People at Transferwise

Taavet Hinrikus

Taavet Hinrikus

Founder & CEO
Harsh Sinha

Harsh Sinha

VP of Engineering
Joe Cross

Joe Cross

General Manager, USA
Kristo Kaarmann

Kristo Kaarmann

Executive Founder
Scott Miller

Scott Miller

VP Global Partnerships
Steve Pole

Steve Pole

Engineering Lead
Nilan Peiris

Nilan Peiris

VP of Growth

Transferwise Office Locations

Transferwise has offices in London, Tallinn, New York, Budapest and in 5 other locations
London, GB
Singapore, SG
Sydney, AU
Tokyo, JP
New York, US
Tampa, US
Cherkasy, UA
Budapest, HU
New York, US
Tallinn, EE

Transferwise Metrics

Transferwise Summary

Founding Date


Market valuation*

£808.2 m

Total Funding

$116.4 m

Latest funding size

$26 m

Time since last funding

10 months


* Source: Company Filings
We estimate that Transferwise's latest funding round in May 2016 was $26 m. In total, Transferwise has raised $116.4 m. We estimate that Transferwise's latest valuation is £808.2 m.

Transferwise Financials

We estimate that Transferwise's revenue is £1.9 m in FY, 2014 which is a 80.4% decrease from the previous period.
FY, 2014FY, 2015FY, 2016A


£1.9 m£9.7 m£27.9 m

Revenue growth, %


Cost of goods sold

£400 k£4.5 m£12.4 m

Gross profit

£1.5 m£5.2 m£15.4 m

Gross profit Margin, %


Operating expense total

£3.5 m£17.9 m£32.8 m


(£2 m)(£11.4 m)(£17.4 m)

EBIT margin, %


Interest expense

£8.9 k£7.3 k£33 k

Pre tax profit

(£2 m)(£11.4 m)(£17.4 m)

Net Income

(£2 m)(£11.4 m)(£17.6 m)

Transferwise Operating Metrics

Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015Q2, 2016

Cumulative Amount Transferred

$10 m$50 m$645 m$2.9 b

Monthly Average Transfers

1.7 k16 k100 k325 k


10 k

Average Transfer Value

$1.5 k

Average Monthly Transaction Volume

£500 m
We estimate that Transferwise's current employees are approximately 34% female and 66% male.

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