About Wise
Wise, formerly known as TransferWise, is a global financial technology company founded in 2011 by Estonians Kristo Käärmann and Taavet Hinrikus. Its mission was born from personal frustration with the high costs and hidden fees of traditional banks for international money transfers. The company pioneered a peer-to-peer model that uses the real, mid-market exchange rate and charges a small, transparent fee, disrupting the cross-border payments industry. It has grown from a simple money transfer service into a comprehensive financial platform for individuals and businesses operating across borders.
Today, Wise offers a suite of services centered around international finance. Its core product remains international money transfers, but it has expanded to include multi-currency accounts, debit cards for spending abroad, business accounts, and asset management features. The Wise Account allows users to hold, convert, and manage over 40 currencies, send money to bank details in over 70 countries, and receive payments like a local in 9 major currencies. For businesses, it provides tools for batch payments, invoicing, and managing overseas expenses.
The company's mission is to build money without borders – creating instant, convenient, transparent, and eventually free ways to move money around the world. It is a publicly listed company on the London Stock Exchange (ticker: WISE) and operates with regulatory licenses in every country it serves, emphasizing transparency by publicly disclosing its profit and fee structure. Wise positions itself not as a bank, but as a money transfer service and electronic money institution, focusing on efficiency and cost-saving rather than offering credit or interest-bearing savings accounts.