Wise
“Can Wise become the global monetary infrastructure layer — owning both the consumer/SMB multi-currency account and the B2B cross-border payment rails that banks and enterprises embed into their own products?”
Founded2011
HQLondon, England, United Kingdom
FoundersKristo Käärmann, Taavet Hinrikus
Latest roundPost-IPO Debt
IndustryFintech / Cross-border payments
The story
Founded in 2011 as TransferWise, a peer-to-peer money transfer startup exploiting the spread between interbank FX rates. Expanded into a full multi-currency account (IBANs, debit cards, business accounts) and rebranded to Wise in 2021 at its London Stock Exchange direct listing. Launched Wise Platform to monetise its global payment rails as B2B infrastructure for banks and enterprises — evolving from a consumer remittance app into a two-sided business: a consumer/SMB neobank and an embedded payments network.
Last 12 months
Product timeline
2011
Founded as TransferWise, offering peer-to-peer international money transfers at mid-market exchange rates.· pivot
2016
TransferWise reported its first post-tax profit with 77.3% revenue growth, achieving unicorn status at $1.6B valuation.· pivot
2019
Launched the Wise multi-currency account and debit card, expanding beyond pure money transfer.· banking
2021
Rebranded from TransferWise to Wise; listed on the London Stock Exchange (LSE: WISE) via direct listing.· ipo
2022
Launched Wise Platform, enabling banks, financial institutions, and enterprises to embed Wise's cross-border payment infrastructure.· banking
2023
Launched Wise Assets (interest/yield on balances) and card issuance API for Wise Platform partners.· banking
2025
Wise Platform moves £181BN+ in global FX volumes; expanded card acquiring services (Request Money/Accept Card Payments) across UK, US, NZ and other markets.· card
Regulated entities
EMI
UK FCA · 2011
Wise Payments Limited
The stack
Payments / PSP
Banking / BaaS
Card issuing
Sponsor bank
FX & payouts
Accounting
Accounting gap: none