Taavet Hinrikus, 33, who was Skype’s first employee, and fellow Estonian Kristo Käärmann, 34, a former management consultant, started TransferWise in 2010 as a result of their frustration at paying high fees when sending money abroad. Their currency transfer platform provides a service which bypasses the traditional international bank payments system and matches customers in different countries who want the opposite currency. The London-based company has attracted investment of more than £20m from heavyweight investors including PayPal co-founder Peter Thiel’s Valar Ventures, Index Ventures, and Sir Richard Branson.