International money transfer firm TransferWise announced a $280mn series E raise; investors in the round include Old Mutual Global Investors, IVP, Sapphire Ventures, Mitsui & Co., Andreessen Horowitz, Baillie Gifford and Richard Branson; they plan to use the funds for expansion to the Asia Pacific region by having a full set of products available in India and opening offices in Tokyo and Sydney. Source.
Companies like TransferWise, Venmo and PayPal have forced banks in Europe to look at creating their own affordable real-time payments service; the idea is in the early stages but it shows the effect that fintech players can have on the traditional banks; the service would also look to head off the increased competitive threat from open banking which is set to begin in early 2018. Source.
Transferwise has obtained a license from the UK’s Financial Conduct Authority to offer retail investments to clients; while Transferwise has...
According to the World Bank global remittances are set to fall by 20 percent this year as the pandemic wreaks...
TransferWise was founded in 2010 and supports 1,600 different currency routes which leads to savings up to £3 million every...
TransferWise is the first fintech to join the Bank of England’s Real Time Gross Settlement (RTGS) system; described as game changing for the company the deal will allow them to lower costs, be on equal footing as banks and offer instant transfers to GBP. Source.
UK based payments fintech TransferWise has upped their valuation to $3.5bn with a secondary funding raise of $292mn; the round...
Marc Roberts is the general counsel for German fintech Raisin and the founding president of the European Fintech Association; while...
This week’s PeerIQ Industry Update continues their coverage of earnings, this week focusing on Amazon; Square acquired e-commerce service provider...
TransferWise first launched borderless debit cards in the UK and Europe in April of last year; to date there have...