Transferwise Planning to Double Estonian Workforce

Kristo Käärmann, CEO and co-founder of TransferWise (Postimees/Scanpix)
6/20/2014 1:20 PM
Category: Economy

Transferwise CEO Kristo Käärmann has pledged that the alternative bank transfer service will create 70 jobs in Estonia by next year.

Recently bolstered by an investment by English business magnate and investor Richard Branson, among others, the London-headquartered company started by two Estonians claims users have made 1 billion euros worth of transfers, saving 45 million euros in bank fees in the process.

This week, it was also announced that the company placed 16th on CNBC's list of 50 movers and shakers in the field of technology, side by side with Dropbox, Uber and Spotify.

TransferWise's founders also won recognition at London Technology Week for a "startup to riches" success story. It announced 18.4 million euros in investments last week.

Currently the company has its IT development, customer support and payment operators in Tallinn - 70 of the company's 100 employees. The rest are in London. Käärmann said the plan is to double the size of the Tallinn office.


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