Hindrikus and Käärmann took home the Web Entrepreneur of the Year title, presented by the Vice President of the European Commission Jyrki Katainen, and the President of the European Committee of the Regions Markku Markkula. The winners were announced during Slush Conference in Helsinki where the European web entrepreneur community was represented by 15,000 participants, including 1,700 startups, 800 investors, and 650 media representatives. The selection of the winners depended on the public voting and jury input.

Europioneers is organized by the European Commission as part of the Startup Europe initiative, in partnership with Deloitte, LEWIS PR and the European Young Innovators Forum. The objective of the competition is to identify and recognise successful European web initiatives, to promote the role web entrepreneurs play in European society, and to encourage and inspire potential entrepreneurs. The award were given for the third consecutive year. In 2014 over 300 nominations were received, voted on by over 2000 members of start-up communities.

Käärmann and Hinrikus are the founders of TransferWise, an Estonian developed and UK-based peer-to-peer money transfer service with headquarters in London and offices in Tallinn and New York. More than 3 billion pounds has been transferred through TransferWise to date.