Transferwise hires former Netflix CFO

Transferwise is one of Estonia's handful of unicorns.
Transferwise is one of Estonia's handful of unicorns. Source: Transferwise

Estonian-founded and U.K.-based money transfer company Transferwise has appointed former Netflix CFO David Wells and Adyen CFO Ingo Uytdehaage members of its board of directors, Reuters reports.

Uytdehaage will chair the board's audit and risk committee. The board also includes Transferwise founders Kristo Käärmann and Taavet Hinrikus as well as two investors — Alex Rampell of Andreessen Horowitz and Roger Ehrenberg of IA Ventures.

This May, the company announced that it had closed a secondary funding round of $292 million (USD), or €261.1 million. Investors used the Transferwise for Business platform to settle the financing.

With this second round, Transferwise increased its total value to $3.5 billion, and the latest round brought the total raised by the company in primary and secondary funding thus far to $689 million, the company said.

Transferwise is planning on hiring 750 new employees within a year.

Founded by Estonian duo Taavet Hinrikus and Kristo Käärmann in 2011, Transferwise is a financial technology (fintech) firm offering customers a low-cost means of transferring money abroad.

Transferwise has over 5 million customers, and transfers more than £4 billion (GBP) per month, according to the company.


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Editor: Aili Vahtla

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