Taavet Hinrikus and Kristo Käärmann: TransferWise Offering money transfer at a fraction of the price Our experts We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Taavet Hinrikus and Kristo Käärmann, 30 and 31Company: Transferwise LtdWeb: www.transferwise.com‘The Skype of currency exchange’ is how TransferWise Ltd describes itself; and considering co-founder Hinrikus was Skype’s first employee, it’s a fairly apt synopsis. The service allows consumers to send money between UK and European accounts for a fraction of the price banks charge, by using a peer-to-peer crowdsourced model to get the best rate on the exchange.The founders launched in 2010, after becoming fed up with being charged a substantial amount of money when sending money back and forth to their home country of Estonia. Taking on the banks has so far paid off, with the company’s exchange volume reaching £10m in its first year. Investors include VC firms, as well as the founders of PayPal and Wonga. Share this post facebook twitter linkedin