April 18, 2012
We are very delighted to announce that we have just been joined by the A-Team of investors. Some of the smartest people in finance just backed TransferWise with a 1.3M USD seed round.
Our fundraising was led by IA Ventures from New York and joined by Index Ventures, Kima Ventures and Seedcamp. While Seedcamp has been supporting us for some time already all the other institutional backers are new. Roger Ehrenberg, Managing Partner at IA Ventures who will join the TransferWise board of directors says “TransferWise is moving the money transfer market to the 21st century at a time when many banks and traditional financial services firms are forgetting innovation and customer experience.”
Besides these stellar tier one venture capital partners we have some very exciting angels who have built some of the more famous consumer oriented online and financial companies. It's great to have Saul Klein and Robin Klein who have been supporters of European entrepreneurship for a long time. Also Max Levchin adds a very good perspective from his experience of building PayPal and Shamir Karkal complements that with building up Simple.com as a new generation bank.
Additionally we have other great people who have previously built, or are still building Wonga, Skype, Betfair and PayPal. It's fantastic to be able to tap into their experiences of building these disruptive companies.
What does this change for us? Not a lot and quite a bit at the same time. Its another vote of trust and show of confidence in the TransferWise team and in what we have built so far. We will use this to continue on the same path - expanding currencies, fueling our growth and building a better product.
Welcome on board gentlemen,
Taavet & Kristo