Wise

Wise was founded in 2011 by two friends, Taavet Hinrikus (Skype’s first employee) and Kristo Käärmann, who recognized a significant challenge many individuals and businesses face: the high cost and lack of transparency in international money transfers. Traditional banks often obscure fees within unfavorable exchange rates, making it difficult for customers to understand the true cost of sending money abroad. This frustration was personal for the founders; Taavet received his salary in euros while living in London and needing pounds, and Kristo, also in London, was paid in pounds but had a mortgage in euros back in Estonia. They devised a simple peer-to-peer system for themselves, which sparked the idea for a broader solution to help everyone avoid excessive bank charges and unfair exchange rates.

Our customers, ranging from individuals sending money to family overseas, freelancers getting paid by international clients, to businesses managing global payroll and supplier payments, were all burdened by these opaque and expensive traditional systems. That's why Wise (formerly TransferWise) was created – to offer a cheaper, faster, and more transparent way to move money across borders. We empower our customers by providing them with the real mid-market exchange rate, the one you see on Google, and charging a small, upfront fee. This customer-centric approach means no hidden markups and clear visibility into the cost of each transaction. Over the years, we've expanded our offerings beyond simple money transfers to include a multi-currency account that allows customers to hold and manage money in dozens of currencies, a debit card for spending abroad without hidden fees, and specialized business accounts to cater to the needs of global enterprises. Our mission is to make money borderless – eventually, for free – so our customers can live, work, and operate internationally with greater ease and financial efficiency.