TransferWise

Wise, formerly known as TransferWise, is a financial technology company founded in London in 2011 by Kristo Käärmann and Taavet Hinrikus. The company's primary service is international money transfer, offering a platform for individuals and businesses to send and receive money across borders at significantly lower costs than traditional banks. Wise utilizes a peer-to-peer system and transparent fee structure to achieve these savings, meaning that instead of sending money through the SWIFT network, they match transfers between customers in different countries, thereby reducing intermediary bank fees.

The company also provides a multi-currency account that allows users to hold, send, and receive money in multiple currencies. This account comes with a debit card, enabling users to spend money internationally without incurring foreign transaction fees. Wise has expanded its services to include business accounts, offering features like invoicing, expense management, and integration with accounting software.

Wise operates under various financial regulatory bodies worldwide, adhering to strict compliance and security standards. The company has grown rapidly since its inception, becoming one of the largest fintech companies globally and serving millions of customers. Their mission is to make international finance borderless.