TransferWise was founded in 2010 and supports 1,600 different currency routes which leads to savings up to £3 million every...
TransferWise is the first fintech to join the Bank of England’s Real Time Gross Settlement (RTGS) system; described as game changing for the company the deal will allow them to lower costs, be on equal footing as banks and offer instant transfers to GBP. Source.
TransferWise is privately launching a borderless account and debit card; the move is beginning to draw comparisons to other fintech companies like Revolut; the account will be rolled out in a small launch then a full launch thereafter; the account will give you access to local bank details for the UK, US, Australia and Europe, as well as allowing you to hold and convert 28 currencies; the move is not seen as replacing the current account but is instead a partner account; the account would allow people working in different countries to convert to their local currency without the hassle of additional fees or having to join a local bank. Source.
International money transfer firm TransferWise announced a $280mn series E raise; investors in the round include Old Mutual Global Investors, IVP, Sapphire Ventures, Mitsui & Co., Andreessen Horowitz, Baillie Gifford and Richard Branson; they plan to use the funds for expansion to the Asia Pacific region by having a full set of products available in India and opening offices in Tokyo and Sydney. Source.
UK based payments fintech TransferWise has upped their valuation to $3.5bn with a secondary funding raise of $292mn; the round...
Transferwise has obtained a license from the UK’s Financial Conduct Authority to offer retail investments to clients; while Transferwise has...
TransferWise sold $319mn worth of shares to early investors and employees that valued the fintech at $5bn; the company’s valuation...
Institutional Venture Partners (IVP) has also invested in Netflix, Snapchat and Twitter; with the newest round of funding the company's value is expected to increase to over $1 billion; it has previously raised a total of $116 million; the firm is currently doing more than GBP1 billion ($1.29 billion) of transfers per month on its platform; new initiatives include opening a Singapore office, launching a borderless business account and adding its service to Facebook Messenger. Source
Callcredit is the second largest consumer credit bureau in the UK and was founded in 2000; the company currently has 1,200 employees; TransUnion currently does business in 33 countries. Source
According to new reporting by Sifted and Finance Forward N26’s exit from the UK was not due to Brexit but...