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International Internet Magazine. Baltic States news & analytics Saturday, 23.10.2021, 20:44

Transferwise to hire 165 new employees in Estonia

BC, Tallinn, 09.12.2020.Print version
Transferwise, the international money transfer service founded by Estonian entrepreneurs, is to create 750 new jobs over the next six months, more than 150 of which will be located in Tallinn, informs LETA/BNS.

Transferwise's recruitment effort seeks to support its exponential growth; the company saw its revenue grow 70 percent on year to 302.6 million British pounds in the previous financial year.

Transferwise has continued its expansion in 2020 despite the present economic climate -- the company now has some nine million customers and 14 offices across the world, including those in Tallinn, London, Singapore, New York and Sao Paulo. Transferwise currently employs some 2,200 people, over 900 of whom are based in Tallinn. According to the latest recruitment objectives, the Tallinn team is to grow by one-third over the coming six months.

"Today, we're helping some nine million private and business customers move their money internationally in a more convenient, rapid and affordable way; however, this is just the beginning. In order to carry out our Money Without Borders mission, we need reinforcements for our team," Transferwise CEO and co-founder Kristo Kaarmann said. 

Transferwise was founded in 2011 by Estonians Taavet Hinrikus and Kristo Kaarmann. The company's nine million clients at present conduct cross-border money transfers worth more than six billion US dollars every month, saving some 1.5 billion dollars per year thanks to lower service fees.

By now, the company has attracted over one billion US dollars in investments from investors such as D1 Capital Partners, Lead Edge, Lone Pine, Vitruvian, IVP, Merian Chrysalis Investment Company Ltd, Andreessen Horowitz, Sir Richard Branson, Valar Ventures and Max Levchin from PayPal.

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