TransferWise is a financial technology company based in the United Kingdom that provides money transfer services and facilitates currency exchange. It was founded in January 2011 by Estonian entrepreneurs Taavet Hinrikus and Kristo Käärmann. The company's headquarters are located in London, United Kingdom.

TransferWise primarily offers a peer-to-peer money transfer platform that allows individuals and businesses to send money internationally at a significantly lower cost compared to traditional banks and money transfer services. The platform uses a unique system where transfers are made by matching individuals sending funds in one currency with individuals needing the same currency in the destination country. This system eliminates the need for traditional cross-border transfers and allows users to bypass high fees and unfavorable exchange rates typically charged by banks.

On a global scale, TransferWise operates in more than 90 currencies and has expanded its reach to over 70 countries worldwide. It has established partnerships and collaborations with various financial institutions, including major banks, to provide seamless integration of its services. Notably, TransferWise has a partnership with Japan's largest e-commerce company, Rakuten, which enables customers of both companies to easily transfer money between their accounts.

TransferWise has rapidly gained popularity and significant market share in the international money transfer industry. As of 2020, the company's annual revenue reached nearly £300 million ($400 million) and it served over 8 million customers globally. Due to its innovative approach and competitive pricing, TransferWise has positioned itself as a strong competitor against traditional banks and other money transfer providers.

In terms of major events, TransferWise achieved a significant milestone in 2017 by becoming the first non-bank entity to gain direct access to the UK's Faster Payments Scheme. This allowed the company to process payments in real-time, providing customers with faster and more efficient money transfers. In addition, TransferWise launched a Borderless account in 2017, which offers users multi-currency bank accounts and debit cards, allowing for easy international transactions.

As of now, TransferWise has rebranded itself as Wise in February 2021. This name change reflects the company's broader vision of providing not only money transfer services but also various financial solutions to its global customer base. With continuous growth and expansion, Wise remains a leading player in the fintech industry, aiming to make international banking and money transfers simpler, cheaper, and more accessible for everyone