Founded on transparency
As Estonians living in London, Taavet and Kristo sent money abroad a lot. But they always got less than they expected. It turned out that while their banks were touting low fees, they were giving them bad exchange rates.
The system wasn't transparent.
Taavet and Kristo started TransferWise to change that. To give people a fair rate – while also charging low fees.
To do those things, they had to build a more efficient way of sending money.