TransferWise valued at nearly $1 billion

TransferWise's campaign against hidden bank fees in London. Founders Kristo Käärmann and Taavet Hinrikus in the middle. (Transferwise/R2)
11/11/2014 1:50 PM
Category: Economy

The Estonian-founded, London-registered, money transfer firm TransferWise fundraising could value the company at nearly 1 billion dollars, the Financial Times reports.

According to the London-based financial daily, the Silicon Valley venture capital firm Sequoia Capital is in advanced discussions to invest 50 million dollars into London start-up TransferWise, in an investment that would value the money transfer company at close to 1 billion.

Three-year-old TransferWise was founded by Estonians Taavet Hinrikus and Kristo Käärmann in London in 2011. About 100 of its employees work at the firm's office in Tallinn.

The company lets people send money to one another internationally in 39 different countries. TransferWise raised 25 million dollars earlier this year, from investors such as Sir Richard Branson, Index Ventures and Xavier Niel, the French entrepreneur. Other investors include PayPal co-founders Max Levchin and Peter Thiel.


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