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
HQNew York, NY, US
Websitetransferwise.com
Employee Ratings4.3

Latest Updates

Employees (est.) (Feb 2021)2,200(+5%)
Revenue (FY, 2020)£302.6 M(+69%)

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 New York, Tampa, Collingwood, Brussels and in 6 other locations
New York, NY, US (HQ)
19 W 24th St Floor 9
Tampa, FL, US
2000 E 11th Ave
Collingwood, AU
36-38 Gipps St
Tallinn, EE
Veerenni 24
Chiyoda, JP
Otemachi Building, 1-6-1 Otemachi
Cherkasy, UA
Smilyanska 46, 2nd floor
Show all (11)

TransferWise Financials and Metrics

Summary Metrics

Founding Date

2011

TransferWise total Funding

$1 b

TransferWise latest funding size

$319 m

Time since last funding

a year ago

TransferWise investors

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.
View all funding rounds

TransferWise Revenue

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TransferWise's revenue was reported to be £302.6 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
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
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
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
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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

42697070
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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

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TransferWise Online and Social Media Presence

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TransferWise News and Updates

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.
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.

Estonian-founded TransferWise becomes Wise

Now far more than way to transfer money across borders, TransferWise announces a rebrand to bring its name in line with its increasing portolio of services. Fintech start-up TransferWise is rebranding as Wise in order to reflect the firm’s expanded portfolio of services, which now stretches far beyo…

TransferWise rebrands as plain old 'Wise'

TransferWise has rebranded as Wise, dropping the money-moving focus of its brand to reflect the wider array of banking products it now provides to customers.

Transferwise rebrands to Wise ahead of London listing

A decade after its launch Transferwise has rebranded to Wise ahead of its long-awaited IPO. The fintech, which was most The post Transferwise rebrands to Wise ahead of London listing appeared first on CityAM.

TransferWise to hire over 70 new employees in Singapore after rebrand

It also announced the appointment of Lim Paik Wan as country manager for Malaysia.
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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 2,200 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 £137.5 k.

  • Who are TransferWise competitors?

    Competitors of TransferWise include N26, Qonto and Payoneer.

  • Where is TransferWise headquarters?

    TransferWise headquarters is located at 19 W 24th St Floor 9, New York.

  • Where are TransferWise offices?

    TransferWise has offices in New York, Tampa, Collingwood, Brussels and in 6 other locations.

  • How many offices does TransferWise have?

    TransferWise has 11 offices.