Led by Valar Ventures, the $6 million in capital represents the first European investment for Peter Thiel’s venture fund, and a major boost to the London-based, peer-to-peer money transfer startup.
Also participating in the round were existing investors including SV Angel.
In the two years since inception, TransferWise
has raised more than $7 million in capital. The company, headquartered in London’s Tech city, was founded by Taavet Hinrikus and Kristo Kaarmann, and serves as an alternative to traditional money transfer services offered by banks and other FIs.
TransferWise supports transfers between major European currencies such as the Euro, British Pound, and Polish Zloty, as well as the Danish, Norwegian, and Swedish Krone.
At this time, transfers from the U.S. dollar into European currencies are not available through the service, but are expected in the near future. TransferWise is also looking to add another 12 new currencies, as well as launching in France, Germany, Italy, and Spain in 2013.
TransferWise presented their technology as part of FinovateEurope in February. To see their demo, visit them at our FinovateEurope 2013 video page here