Kristo Käärmann
Co-founder 2011Background
Kristo Käärmann was a management consultant at Deloitte Consulting and PricewaterhouseCoopers, working with European banks and insurers to modernize their processes and systems. Stunned by their inefficiency, he teamed up with Taavet Hinrikus to develop an entirely new system for moving money across borders. Käärmann's defining decision was to prioritize regulatory compliance from day one, registering TransferWise with the UK Financial Conduct Authority before most fintechs considered it a priority. This early compliance focus enabled Wise to build direct banking relationships and eventually gain its own payment rail access, rather than remaining dependent on intermediary banks that could terminate partnerships with 30 days' notice. Käärmann became CEO in 2017 when Hinrikus stepped back to focus on investing, and has led the company through its 2021 direct listing and expansion to 15.6 million customers.