Wise Group plc
Company History
Wise History: Founding, Growth & Key Milestones
Founded 2011 in London, United Kingdom
When was Wise founded?
Wise was founded in 2011 in London, United Kingdom by Kristo Käärmann and Taavet Hinrikus, making it 15 years old.
- Founded
- 2011
- Founding place
- London, United Kingdom
- Founders
- Kristo Käärmann and Taavet Hinrikus
- Headquarters today
- London, United Kingdom
- Milestones documented
- 10 (2011–2026)
- Current CEO
- Kristo Käärmann
- Acquisitions
- 1
| Year | Event |
|---|---|
| 2011 | TransferWise launches |
| 2013 | Valar Ventures Investment |
| 2014 | Series B Funding |
| 2015 | $58 million round led by Andreessen Horowitz |
| 2017 | Multi-currency account |
| 2019 | $3.5 Billion Valuation |
| 2020 | $5 Billion Valuation |
| 2021 | Rename and London direct listing |
| 2026 | Nasdaq primary listing |
| 2026 | FY2026 results |
- Where was Wise founded?
- Wise was founded in London, United Kingdom in 2011. wikidata.org
- Who founded Wise?
- Wise was founded by Kristo Käärmann and Taavet Hinrikus.
- When did Wise start?
- Wise was founded in 2011.
- How old is Wise?
- Wise is 15 years old as of 2026.
Founding Story
Wise (formerly TransferWise) was founded in 2011 by two Estonian friends, Taavet Hinrikus and Kristo Käärmann, working in London. They were both deeply furious at the massive, hidden fees banks charged to move money internationally. Taavet (Skype's first employee) was paid in Euros but lived in London (needing Pounds). Kristo was paid in Pounds but had a mortgage in Euros. They realized it was absolutely stupid to cross borders; instead, they simply deposited their respective local currencies into each other's local bank accounts at the exact mid-market exchange rate. Realizing this highly elegant peer-to-peer matching system could bypass the massive, slow SWIFT banking network entirely, they built TransferWise to offer radically cheap global transfers.
Founders
Kristo Käärmann
Kristo Käärmann co-founded TransferWise with Taavet Hinrikus in 2011 and has been chief executive since 2017, when Hinrikus stepped back from the CEO role. He has led the company through the 2021 rename to Wise, the July 2021 London direct listing, and the May 2026 move of its primary listing to Nasdaq. Kristo Käärmann was born in 1980.
Taavet Hinrikus
Taavet Hinrikus co-founded TransferWise in 2011 and served as its first chief executive until 2017. He later chaired the board before stepping down from that role, and has since focused on investing in early-stage companies. Taavet Hinrikus was born in 1981.
Key Milestones
TransferWise launches
Kristo Käärmann and Taavet Hinrikus launch TransferWise in London.
Source: en.wikipedia.orgValar Ventures Investment
Peter Thiel's Valar Ventures led a $6 million investment in TransferWise in 2013.
Source: en.wikipedia.orgSeries B Funding
TransferWise raised $25 million in 2014 in a round that included Richard Branson.
Source: en.wikipedia.org$58 million round led by Andreessen Horowitz
TransferWise raised $58 million in a Series C round led by Andreessen Horowitz in January 2015, taking total funding past $90 million.
Source: techcrunch.comMulti-currency account
The Borderless account, now the Wise Account, lets customers hold balances in several currencies.
Source: en.wikipedia.org$3.5 Billion Valuation
A secondary share sale in May 2019 valued TransferWise at $3.5 billion.
Source: en.wikipedia.org$5 Billion Valuation
A secondary share sale in July 2020 valued TransferWise at $5 billion.
Source: en.wikipedia.orgRename and London direct listing
TransferWise becomes Wise and lists directly on the London Stock Exchange in July.
Source: en.wikipedia.orgNasdaq primary listing
Wise begins trading on Nasdaq under WSE on May 11, 2026, keeping a secondary LSE listing.
Source: newsroom.wise.comFY2026 results
Wise reports net revenue of $2,502.8 million and net income of $498.7 million for the year ended March 31, 2026.
Source: markets.ft.comMajor Acquisitions
Expatica
2026Expand support for international migrants.
Keep researching Wise
Wise Company History FAQ
When, where, and how was Wise (TransferWise) founded?
Wise was founded in January 2011 in London, United Kingdom, as TransferWise by Estonian entrepreneurs Kristo Käärmann and Taavet Hinrikus to eliminate extortionate hidden bank foreign exchange fees.
What was the legendary origin story behind TransferWise?
Taavet worked for Skype in London and was paid in euros while needing pounds; Kristo worked at Deloitte and was paid in pounds while paying a mortgage in euros. They created an informal ledger trading currencies at the real mid-market exchange rate without bank fees.
How did Wise achieve direct access to the Bank of England's payment system?
In April 2018, Wise made financial history by becoming the very first non-bank payment service provider granted direct access to the Bank of England's Real-Time Gross Settlement (RTGS) system and Faster Payments network.
Why did TransferWise rebrand to Wise in February 2021?
The company dropped 'Transfer' from its name to reflect its evolution from a simple money transfer tool into a multi-product global financial account offering cards, business banking, and embedded bank APIs.
When did Wise go public on the London Stock Exchange?
On July 7, 2021, Wise completed the largest tech public listing in London Stock Exchange history, executing an £8.75 billion ($12.1 billion USD) direct listing under ticker symbol WISE.
Why did Wise choose a direct listing over a traditional IPO?
Because Wise was already profitable and well-capitalized, it opted for a direct listing to avoid issuing new dilutive shares or paying tens of millions in investment bank underwriting fees.
What is the Wise Platform API initiative?
Wise Platform allows traditional banks and enterprise platforms (including Monzo, Google Pay, Interactive Brokers, and Shinhan Bank) to embed Wise's fast, low-cost cross-border payments directly into their own apps.
What is Wise's 'money without borders' speed milestone?
Through direct connections to local national payment clearing rails, over 60% of all international transfers on Wise arrive in the recipient's bank account in less than 20 seconds.
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