TransferWise was born of frustration

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.

How it happened

Taavet Hinrikus and Kristo Käärmann are two friends who believe that money is meant to flow freely. But in the absence of a global currency, it doesn’t. An epiphany saved them thousands of pounds.

Taavet had worked for Skype in Estonia, so was paid in euros, but lived in London. Kristo worked in London, but had a mortgage in euros back in Estonia. They devised a simple scheme. Each month the pair checked that day’s mid-market rate on Reuters to find a fair exchange rate. Kristo put pounds into Taavet’s UK bank account, and Taavet topped up his friend’s euro account with euros. Both got the currency they needed, and neither paid a cent in hidden bank fees.

“There must be others like us," the epiphany went.

And the rest is TransferWise.

Customer Stories

The revolution is made of people. Incredibly satisfied people, in fact. Find out why they love TransferWise

  • Brynne H,

    Lives in London, makes personal and business transfers

  • Damien A, Entrepreneur

    Transfers money between the UK and France

  • Geoff G.

    Happily retired, with a 2nd home in France

  • Celso Pinto,

    Lives in London, sends money to Portugal and the US

  • Alexandra Thiebaut

    Lives in London, sends money back to France

Media & Awards

The world’s media is onside. The awards are a nice little extra. Read the coverage.

Revolutionaries Needed

We’re not a bank. Not even close. In fact, we’re pretty much the opposite. We’re flipping a gazillion dollar industry on its head. And we’re looking for revolutionaries. See open postions


Kristo Käärmann Executive Founder
Kristo lived and breathed the world of finance from the inside. At PwC and Deloitte, he helped banks and insurers bring their processes and systems into the 21st century. But stunned by the inefficiency of financial institutions, he wanted to do more. At TransferWise, he is in charge of all operations activities, technology, development, compliance and regulatory issues.
Taavet Hinrikus Founder, CEO
Taavet likes things that are simple, reliable, and cost no more than they should. As Skype's first employee, he helped build a company that has changed hundreds of millions of lives. He’s since helped various companies as an angel investor and advisor. At TransferWise, Taavet looks after marketing, product development, PR, and investor relations.


TransferWise is backed by a fantastic team of smart investors who believe that there’s a dire need for innovation in financial services. In addition to the great institutional investors below, we’re supported by private individuals who founded or are building Virgin, PayPal, Skype, Betfair, and others.