Tech Track 100

Founded in 2010 by Taavet Hinrikus, 38, and Kristo Kaarmann, 39, TransferWise became the first non-bank to gain access to the Bank of England’s payment system last year. This allows it to bypass established banks and charge its 5m customers lower fees. It moves £4bn every month between 49 currencies, and has 12 offices globally, including in Tokyo, New York and Brussels. Sales — fees paid for transfer services — reached £179.1m this year. In May, the company completed a $292m funding round led by Lead Edge Capital, Lone Pine Capital and Vitruvian Partners, taking the total it has raised to $689m and valuing the firm at $3.5bn.

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Company details
ActivityCurrency transfer provider
LocationEast London
Average 3 year sales growth85.96%
Latest sales £000s*179,100

If applicable:

* supplied by company † annualised figure