The Estonian Fintech startup TransferWise, with an estimated value of USD 1.6mln, attracted USD 280mln in series E investment round. Some new investors participated in the round, like IVP Fund, Sapphire Ventures, Mitsui & Co, World Innovation Lab and Old Mutual Global Investors.
In the frames of the deal, the existing shareholders of first employees and founders Taavet Hinrikus and Kristo Käärmann. sold some of their shares.
Founders of the start-up, Taavet Hinrikus and Kristo Käärmann.
This round was conducted in order to improve the balance sheet of the start-up. As of present, the company continues global expansion with a special focus on the Asia-Pacific region, and also develops a virtual Borderless account, which was launched in May. Borderless is designed to facilitate the work of businesses and individual freelancers working with international customers.
According to recent data, TransferWise serves two million customers transferring more than USD 1.31bn a month a month for 750 currency routes.
TransferWise also works with Ukrainian hryvnia too but one can only receive transfers and not make it yet in Ukraine.
In Cherkassy of Ukraine, TransferWise set up one of the companys first development offices consisting of 12 people under supervision of Bogdan Danilyuk. The founders of the start-up attracted Danilyuk to develop a beta version of the product that time.