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Founded in 2010 by Estonia-born Taavet Hinrikus, 39, and Kristo Kaarmann, 40, TransferWise’s currency exchange technology bypasses the traditional international bank-payments system to allow it to charge lower fees to its eight million customers. TransferWise moves the equivalent of £4bn a month between 54 currencies, and has 14 offices around the world. In response to the pandemic it is waiving fees on donations made through its platform to organisations researching a Covid-19 vaccine. Sales reached £302.6m this year, and in July, it sold $319m (£246m) of shares in a private transaction that valued it at $5bn.

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Company details
ActivityInternational payments provider
LocationCentral London
Sales £m302.6*
Operating profit £mn/a
Main shareholdersAngel investors & VC (>50%), founders (<50%)

If applicable:

* supplied by company   † annualised figure   ‡  profit = ebitda