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International Internet Magazine. Baltic States news & analytics Saturday, 19.10.2019, 23:04

Estonia: Transferwise to soon open office in Brussels

BC, Tallinn, 03.10.2019.Print version
The provider of international money transfer services Transferwise is to soon open a new office in Brussels, wirtes LETA/BNS.

Transferwise did not wish to issue a comment to on the specific time of opening but confirmed that local work for opening the office has started.

The company announced in January of this year that it is applying for a new license in Brussels in order to ensure the continuation of services in the event of a no-deal Brexit. Kristo Kaarmann, CEO and co-founder of Transferwise, said back then that Brussels is at the heart of all EU affairs, so establishing an office in the city makes great sense.

"The National Bank of Belgium (NBB) impressed us with its understanding of the payments sector and openness to innovation, while at the same time being a strong and trusted regulator. We are keen to build a similarly productive relationship with the NBB to the one we already have with the UK's Financial Conduct Authority," he said in January.

"The Belgian e-money license ensures we can continue to provide a great service globally to our customers, whatever happens with the Brexit deal," Kaarmann added.

There are over 200 people working at the company's head office in London. 

Transferwise already has regional head offices in London, New York and Singapore. Along with the one to be established in Brussels, the company will have 10 offices, including those in Tallinn, Budapest, Cherkasy, Tokyo, Sydney and Tampa.

Co-founded by Estonians Taavet Hinrikus and Kristo Kaarmann, Transferwise launched in 2011. It is one of the world's most successful fintech startups having raised 397 mln U.S. dollars from investors such as IVP, Old Mutual, Andreessen Horowitz, Sir Richard Branson, Valar Ventures and Max Levchin of PayPal.

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