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Money Without Borders: A Peek Inside Wise

Two forces have shaped the economy over the past several decades: technology and globalisation. While fintech is usually a play on the former, Wise (formerly known as Transferwise) is a product of them both. 

The company was founded in 2010 by two friends, Taavet Hinrikus and Kristo Käärmann. As origin stories go, theirs is well-rehearsed. The pair are originally from Estonia but met while working in London. Taavet had moved to the UK in 2006 in his role as director of strategy for Skype but continued to get paid in Estonian kroon. Kristo, a consultant at Deloitte, was paid in pounds, but needed Estonian kroon to make mortgage payments back home. 

As anyone who’s tried will know, using the banking system to move …