According to CEO Christo Karman, the new name – Wise – better reflects its mission.
British fintech unicorn TransferWise rebrands its business. According to a press release posted on the company’s website, it is now called Wise.
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- The service web interface is now available at wise.com. The CEO of the startup, Christo Karman, said that in a few weeks, users will be redirected to the new version of the site. The mobile app will also be renamed.
- At first, a startup launched a decade ago offered cross-border money transfer services to its clients. Since then, however, Wise has expanded its range of services. According to Karman, the new name better reflects the mission of his company.
“The company, which was originally launched in 2011 as a money transfer service, has expanded its reach to build a cross-border payment network that will reduce the cost and improve the efficiency of banking for 10 million private and corporate clients,” writes Kyarman.
- The startup’s current product line includes a Wise international bank account with a debit card linked to it, a Wise Business account, and a Wise Platform that other companies and digital banks use to connect to the startup infrastructure.
- Wise’s clients keep more than £ 3 billion in their accounts, and during its operation, the startup has issued 1.4 million debit cards. Over the past 12 months, more than 150 thousand corporate clients have joined Wise.
At the end of January, the media wrote that Wise hired investment banks Goldman Sachs and Morgan Stanley to organize an initial public offering, which could take place as early as late 2021. Wise’s business was valued at $ 5.5 billion in the startup’s latest round of funding last July. The IPO is expected to take place at a higher valuation.
