Monday, April 19, 2021
TechMoran
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds
No Result
View All Result
TechMoran
">
Home Startups

TransferWise Hits $1.6 Billion in Transfers | Overhauls System to Take Banks Revenue

Sam Wakoba by Sam Wakoba
7 years ago
in Startups
6 min read
0

supportTeam-photo-f4357f1b6bd19b01da0e2e9ed440111fAfter hitting its £1bn (1.6billion) in transfers, and raising $25m from Sir Richard Branson and others , TransferWise is going for the banks revenue, moving beyond the ‘early adopter phase’.

TransferWise today has redesigned its website, giving it a more its users  a streamlined and more intuitive user experience, a new logo, total redesign of its iOS 8 app for iPhone 6 and 6+ and iPad and a touch-ID login and deep integration with the iPhone contacts book.

The firm has bought its first primetime TV advert to air nationally in the UK from today.

According to Taavet Hinrikus, co-founder of TransferWise, “The retail banking industry – particularly in the UK – is dominated by a handful of major players. This poses a huge challenge for fintech companies like us, looking to attract consumers who’ve grown up with the same few brand names.  We believe that just being a little better isn’t enough, so we strive to offer something that’s  ten times easier, faster and better than the banks to make mainstream consumers aware of alternative finance providers like us.That’s why we’ve invested in the new product, brand and TV ad that we’re launching today.”

Taavet Hinrikus and Kristo Käärmann
Taavet Hinrikus and Kristo Käärmann

Launched early in 2011, TransferWise has attracted $33m from some of the world’s leading investors. Most recently this includes Richard Branson and Facebook’s first outside investor and co-founder of PayPal, Peter Thiel. TransferWise was his first Valar Ventures investment in Europe. Other investors include SV Angel, fellow PayPal founder, Max Levchin, IA Ventures, Index Ventures, TAG (Robin Klein and Saul Klein), Seedcamp, Betfair’s former CEO David Yu, and the owner of Le Monde Xavier Niel (via Kima Ventures).

READ  Helios Towers acquires over 1,200 sites from Free Senegal for €160M

The firm aims to make international money transfers more affordable than they are even when banks and brokers claim there are ‘no fees’.  Many banks take as much as 5 percent of the money being sent but TransferWise wants to be the new alternative that allows people to transfer money abroad at a lower cost than ever before. It uses technology developed by the people who built Skype and PayPal to remove all the fees the foreign exchange industry has kept hidden for decades. Customers have already moved more than £1bn using the platform – an approach that has put over £45m back in their pockets.

10665737_739060809497453_2823567307874331520_n TransferWise supports currency transfers between euro, British pound, Swiss franc, Polish zloty, Turkish lira, Romania leu, Bulgarian lev, Georgian lari, Hungarian forint, Danish, Swedish, Czech, Norwegian krone and US Dollar. It also supports transfers from these currencies to Indian rupee, Australian, Singaporean, Hong Kong, and New Zealand dollar. Transfers from these currencies to all other supported currencies and many other routes are coming soon.

Related posts

Ghana’s remittance firm Zeepay acquires Mangwee Mobile Money in Zambia

April 19, 2021
0

Quro Medical, a South African startup that provides homecare treatment for patients raises a $1.1m seed round

April 19, 2021
0

Kenya’s Amitruck & Sky.Garden partner on ecommerce & last-mile delivery across the country

April 19, 2021
0

Egypt’s pharmacy delivery app Yodawy partners MedNet to simplify the purchase of medical insurance

April 19, 2021
0

Algebra Ventures’s $90M war chest is for fintech, logistics, healthtech & agritech startups in Egypt

April 19, 2021
0

Graduate Farmer growing to make agribusiness a viable business for Kenyan youths

April 19, 2021
0

The platform can be used by expats, freelancers, pensioners and Small and medium-sized businesses.

READ  What Is Really Going on With Nigerian digital music powerhouse, iROKING? Michael Ugwu Speaks

 

 

Readers 1,611

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: Money TransferMoneyGramwestern union
Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Startups

Ghana’s remittance firm Zeepay acquires Mangwee Mobile Money in Zambia

April 19, 2021
0
Startups

Quro Medical, a South African startup that provides homecare treatment for patients raises a $1.1m seed round

April 19, 2021
0
Startups

Kenya’s Amitruck & Sky.Garden partner on ecommerce & last-mile delivery across the country

April 19, 2021
0
Startups

Egypt’s pharmacy delivery app Yodawy partners MedNet to simplify the purchase of medical insurance

April 19, 2021
0
Startups

Algebra Ventures’s $90M war chest is for fintech, logistics, healthtech & agritech startups in Egypt

April 19, 2021
0
Startups

Graduate Farmer growing to make agribusiness a viable business for Kenyan youths

April 19, 2021
0
Startups

Startup Circles hosting an investment summit to help entrepreneurs get funding for their startups

April 19, 2021
0
Startups

Andela eyes global engineering teams with its launch in Latin & South America

April 19, 2021
0
Startups

Grindstone opens call for applications for the next 20 South African startups

April 15, 2021
0

ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Ghana’s remittance firm Zeepay acquires Mangwee Mobile Money in Zambia

April 19, 2021

Quro Medical, a South African startup that provides homecare treatment for patients raises a $1.1m seed round

April 19, 2021

Kenya’s Amitruck & Sky.Garden partner on ecommerce & last-mile delivery across the country

April 19, 2021

Egypt’s pharmacy delivery app Yodawy partners MedNet to simplify the purchase of medical insurance

April 19, 2021

Algebra Ventures’s $90M war chest is for fintech, logistics, healthtech & agritech startups in Egypt

April 19, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: