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Transfer Wise

TransferWise

Company: TransferWise Limited

Brand value: US$831 million

Change since 2019: NEW ENTRY!

Headquarter city: London

Industry: Payments

Year formed: 2011

TransferWise is a money transfer service offering multi-currency accounts and supporting more than 750 currency routes. The business has grown quickly since its launch nine years ago; it reports having over 7 million customers who use TransferWise to move more than £4 billion every month. TransferWise has attracted high-profile investors, including Sir Richard Branson, and PayPal founders Max Levchin and Peter Thiel. An investment round in mid-2019 raised $292 million and gave the company a valuation of $3.5 billion, more than double the valuation TransferWise achieved in late 2017 at the time of its $280 million Series E round. TransferWise promotes itself as “the clever way” to convert money and send it abroad, bypassing banks and their “unfair” exchange rates to make transfers more transparent, with a genuine exchange rate and a fee that is easy to see. It operates in multiple languages online and has 14 offices and over 2,200 employees.