TransferWise announces partnership with large French bank ({{commentsTotal}})

While now based in the U.K., unicorn startup TransferWise was founded and developed by Estonians.
While now based in the U.K., unicorn startup TransferWise was founded and developed by Estonians. Source: Kristjan Teedema/Eesti Meedia/Scanpix

Estonian-developed and U.K.-based money transfer service TransferWise has announced a partnership with France's second-largest bank, Groupe BPCE, that will take effect at the beginning of 2019.

Under the partnership, TransferWise will provide international money transfer services for Groupe BPCE customers, enabling them to send money in different currencies with TransferWise's standard fees, Business Insider reported.

According to the business news portal, BPCE is the first big bank in Europe to integrate with TransferWise's application programming interface (API). TransferWise has already partnered with Estonian LHV, German neobank N26, and had a partnership with the U.K. neobank Starling, though the two stopped working together after Starling decided to build a similar service itself, Business Insider said.

Founded in 2011 by Estonians Taavet Hinrikus and Kristo Käärmann, TransferWise now serves more than three million customers worldwide who move in excess of €2 billion per month with the help of the platform. Altogether $397 million has been invested in the company; investors include IVP, Old Mutual, Andresseen Horowitz, Valar Ventures, PayPal co-founder Max Levchin, and Richard Branson.

Editor: Aili Vahtla

Source: BNS



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