10 years ago

TransferWise: Global Expansion and a $58 Million Funding Round

  • TransferWise, a global money transfer service, has had a successful year and is looking to expand its reach in 2016

  • The company's peer-to-peer model allows users to save on bank fees by exchanging currencies directly with each other

  • TransferWise recently raised $58 million from Andreessen Horowitz and existing investors

  • The company is confident in its position in the competitive fintech market, citing its strong brand and the difficulty of building a similar business online

  • TransferWise also commented on its decision to stop supporting Bitcoin, stating that there is no demand for it.

      • ProblemFinancial Services

      "Sending money abroad is expensive and slow due to high bank fees and long processing times."

      Solution

      "TransferWise offers a peer-to-peer international money transfer service that bypasses traditional banks, resulting in lower fees and faster transfer speeds."

      Covered on