Wise uses the real mid-market exchange rate for currency conversion, passing through the interbank rate without markup, which makes transfers significantly cheaper than traditional banks and competitors who embed hidden margins in exchange rates.
The Wise Platform API enables businesses to embed international payment infrastructure directly into their own products, serving banks like Monzo and N26 as well as fintechs, giving Wise a B2B2C distribution channel that compounds its network effects and reduces customer acquisition cost compared to pure consumer-play remittance services.
Wise (formerly TransferWise) is a London-based fintech providing international money transfers, multi-currency accounts, and payment infrastructure APIs serving 15.6M+ customers.
Founded in January 2011 by Kristo Kaarmann and Taavet Hinrikus, Wise pioneered transparent, mid-market-rate international money transfers. The company rebranded from TransferWise to Wise in February 2021, reflecting its expansion into multi-currency accounts, business accounts, debit cards, and embedded payment APIs. Listed on LSE (WISE) since July 2021 and Nasdaq (WSE) since May 2026, Wise processes over 145 billion GBP in annual cross-border volume.
