Sir Richard Branson joins our mission to stamp out hidden charges.
TransferWise is delighted to announce $25m investment from Peter Thiel’s Valar Ventures, Index Ventures, IA Ventures, Sir Richard Branson and other high profile technology investors.
Three years ago we launched TransferWise because we were tired of being charged huge hidden charges to send our money abroad. Today, Sir Richard Branson has joined our existing investors in throwing $25 million behind our mission to make the world of money transfers a fairer place.
We couldn’t be more excited. We’re going to use this money to lead the charge against scandalous overcharging, expose the scam to a wider audience and let them know that with TransferWise, you don’t need to get ripped off when you send money abroad.
To get the ball rolling, we’ve pulled together a lot of eye-opening evidence, and published it all below.
Exposed – the hidden cost of money transfers
Banks hide huge charges in unfair exchange rates. Here’s what it REALLY costs to send £1,000 to a Euro account.
Naming and shaming
“No fees”, “0% commission”, “one small fee” – none of it’s true. Here’s the evidence. Take a look at this sea of misleading advertising for yourself.
This is just the beginning though. Awareness is key! If you agree that hidden charges and overpricing are outrageous too, please do tweet, blog and share the news about our little revolution. It’ll stop your friends getting $CAMM€D.
Taavet & Kristo