11 years ago

TransferWise Secures $25 Million in Series B Funding Led by Valar Ventures

  • TransferWise, a UK-based international money transfer platform, has raised $25 million in Series B funding

  • The investment was led by Peter Thiel's Valar Ventures and also included Kima Ventures, Index Ventures, and Sir Richard Branson

  • The company plans to use the funds to raise awareness of hidden fees associated with overseas money transfers

  • TransferWise has now raised a total of $33 million and has already moved more than £1 billion through its platform.

      • ProblemFinancial Services

      "Sending money abroad is expensive and opaque. Traditional money transfer services charge hidden fees and customers are often left confused about the true cost of their transfers."

      Solution

      "TransferWise uses technology to eliminate the hidden fees charged by traditional money transfer services. This allows customers to send money abroad at a lower cost and with more transparency."

      Covered on