Estonia, EU – Baltic States, Financial Services, Investments, Technology

"We're delighted to have invested in Transferwise. Its success to date shows how badly served consumers have been in the past and the real need for what Transferwise offers. The company's plans for the future are very exciting and the founders have built up an awesome team to deliver them," Peter Singlehurst from Baillie Gifford said.

"After just five years, we've seen how much Transferwise can help people who need to move money internationally. People are now moving 500 million pounds every month on Transferwise, that means they're saving themselves over 22 million pounds," Taavet Hinrikus, CEO and cofounder of Transferwise, said.

"We want to bring Transferwise to everyone in the world who needs it. It's great to have Baillie Gifford on board to help us grow even faster," he said.

Transferwise declined to say how big a holding in the company changed hands for the 26 million dollars.

Transferwise plans to use the funds to expand its currency routes. It currently lets users send money along 600 currency routes globally and is planning to launch another 150 this year. The company recently launched in U.S.-Mexico money transfer corridor, a 25 billion dollar market.

Founded by Estonians Kristo Kaarmann and Taavet Hinrikus in 2011 as a peer-to-peer money transfer platform, Transferwise has raised 117 million dollars in investments by now.