TransferWise Raises $25M in Series B Funding

transferwiseTransferWise, a London, UK-based international money transfer platform, raised $25m in Series B funding.

Backers included Peter Thiel‘s Valar Ventures, Kima Ventures, Index Ventures, Sir Richard Branson and other technology investors.

The company, which has now raised $33m in total, says it intends to use the funds “to raise awareness of the hidden fees applied to overseas money transfers“.

Co-founded in early 2011 by Kristo Kaarmann (operations, development, and compliance) and Taavet Hinrikus (marketing and product development), TransferWise allows people to transfer money abroad at a lower cost than before by leveraging technology to remove the fees of the foreign exchange industry has kept hidden for decades.
Customers have already moved more than £1bn using the platform.
It employs more than 100 members of staff and operates 234 currency routes.



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01/05/2014: TransferWise, Interview with Taavet Hinrikus
14/05/2013: TransferWise Raises $6M in Funding
18/04/2012: TransferWise Raises $1.3M in Funding

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