2015’s biggest investments: Transferwise £40.5m
Funding round fuels continuing disruption of international transfer market for Transferwise
Description: International transfer service
Founders: Taavet Hinrikus and Kristo Käärmann
Based in: London
Raised: £40.5m ($58m)
Investors: Andreessen Horowitz, Sir Richard Branson, Valar Ventures, Index Ventures, IA Ventures, Seedcamp.
TransferWise co-founder Taavet Hinrikus:
“Andreessen Horowitz’s interest in TransferWise shows how ripe financial services are for disruption. For too long legacy providers’ dominance of the market has allowed consumers to be hoodwinked into paying huge hidden charges for services as basic as currency exchange.”
Ben Horowitz, co-founder of Andreessen Horowitz: “We are thrilled to be backing Taavet and Kristo. They discovered an important secret and are uniquely prepared to pursue it.”
Read more about the deal here.