TransferWise, Europe’s leading consumer financial technology start-up, today announced the official launch of its widely acclaimed peer-to-peer international money transfer platform in Canada.
TransferWise was founded in early 2011, and has quickly grown into one of Europe’s most successful tech exports with more than one million customers and moving almost CAD$1 billion a month, saving customers more than CAD$1 million a day. It has secured $91 million backing from investors such as Andreessen Horowitz, Sir Richard Branson, former CitiGroup CEO Vikram Pandit and PayPal founder Peter Thiel.
The company has been recognized for its innovative approach by the World Economic Forum as a Tech Pioneer, included as a CNBC 50 disruptor, is on the Forbes FinTech 50 list and its mobile app was recognized as Apple’s Most Innovative App in 2015.
Three million Canadians live abroad and almost seven million expatriates live in Canada. They will now be able to send Canadian dollars to any of the 60 countries and 35 currencies on TransferWise’s international money transfer platform – giving them an alternative that is up to five times cheaper compared to a bank. International money transfers are far more expensive than banks let on. Even when they claim there are no fees, they typically use an inflated exchange rate to increase their profits. TransferWise charges just 1.2 per cent – up to five times cheaper than Canadian banks.
In 2015, TransferWise expanded its service to every continent, including major markets such as the United States, China, Brazil and Australia. Since its U.S. launch one year ago, it has processed over two billion U.S. dollar transactions – saving its American customers over $50 million in bank fees in 2015 alone.
TransferWise’s international money transfer platform is based on a peer-to-peer model, which gives users access to the real mid-market exchange rate. This allows them to avoid traditional banking fees altogether, which has never before been possible for Canadian consumers transferring money abroad.
The company started in 2011 with its two founders making transfers between British pounds and euros. It now has over 500 employees and operates across almost 500 currency routes.
For more information and to start transferring your money abroad, visit www.transferwise.com.
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This entry was posted on April 15, 2016 at 8:07 am and is filed under Commentary with tags TransferWise. You can follow any responses to this entry through the RSS 2.0 feed.
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TransferWise Launches in Canada
TransferWise, Europe’s leading consumer financial technology start-up, today announced the official launch of its widely acclaimed peer-to-peer international money transfer platform in Canada.
TransferWise was founded in early 2011, and has quickly grown into one of Europe’s most successful tech exports with more than one million customers and moving almost CAD$1 billion a month, saving customers more than CAD$1 million a day. It has secured $91 million backing from investors such as Andreessen Horowitz, Sir Richard Branson, former CitiGroup CEO Vikram Pandit and PayPal founder Peter Thiel.
The company has been recognized for its innovative approach by the World Economic Forum as a Tech Pioneer, included as a CNBC 50 disruptor, is on the Forbes FinTech 50 list and its mobile app was recognized as Apple’s Most Innovative App in 2015.
Three million Canadians live abroad and almost seven million expatriates live in Canada. They will now be able to send Canadian dollars to any of the 60 countries and 35 currencies on TransferWise’s international money transfer platform – giving them an alternative that is up to five times cheaper compared to a bank. International money transfers are far more expensive than banks let on. Even when they claim there are no fees, they typically use an inflated exchange rate to increase their profits. TransferWise charges just 1.2 per cent – up to five times cheaper than Canadian banks.
In 2015, TransferWise expanded its service to every continent, including major markets such as the United States, China, Brazil and Australia. Since its U.S. launch one year ago, it has processed over two billion U.S. dollar transactions – saving its American customers over $50 million in bank fees in 2015 alone.
TransferWise’s international money transfer platform is based on a peer-to-peer model, which gives users access to the real mid-market exchange rate. This allows them to avoid traditional banking fees altogether, which has never before been possible for Canadian consumers transferring money abroad.
The company started in 2011 with its two founders making transfers between British pounds and euros. It now has over 500 employees and operates across almost 500 currency routes.
For more information and to start transferring your money abroad, visit www.transferwise.com.
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This entry was posted on April 15, 2016 at 8:07 am and is filed under Commentary with tags TransferWise. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.