Estonia, Financial Services, Good for Business, Innovations
International Internet Magazine. Baltic States news & analytics
Tuesday, 22.07.2025, 13:12
Transferwise becomes profitable 6 years after being founded
Print version |
|---|
The company is expected to make a loss before tax of about
2.6 mln pounds in the financial year which ended in March 2017, but the company
said it was profitable this calendar year.
"We're building one of the few new global financial
services brands that are coming out now... To have hit break-even just six
years on from launch shows how strong the foundations of our business are. This
is just the starting point," Taavet
Hinrikus, one of the company's co-founders, said.
The company reported that its customers are now transferring
more than one billion pounds every month and the company employs 700 people.
Transferwise is valued at 850 mln pounds and it has more than one mln
customers.
Transferwise was founded by Estonians Taavet Hinrikus and Kristo Kaarmann in 2011.
«The Baltic Course» Is Sold and Stays in Business!
