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 hidden charges when sending 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 fight against overcharging and let the world know that, with TransferWise, there's an easier, fairer way to 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 GBP to EUR.
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, follow TransferWise's board Exposed – the hidden cost of money transfer on Pinterest.
This is just the beginning, and awareness is key! If you agree that hidden charges and overpricing need to be stopped, please do tweet, blog and share the news about our little revolution.
Taavet & Kristo