Wise, founded in 2011, is a financial technology company that provides international money transfers and multi-currency accounts as an alternative to traditional banking. The company moves over £14 billion per month across more than 160 countries, supporting over 40 currencies for transfers and more than 50 for holding balances.
The company's core product is a multi-currency account that lets users hold balances in over 50 currencies, spend worldwide with a debit card, and send money at the real exchange rate. Wise operates across the financial services and international banking sectors, with a stated focus on transparency and use of the real mid-market exchange rate.
Wise was founded by two friends who were frustrated with the fees charged by banks for international transfers. The company's mission centres on replacing traditional international banking with a faster, lower-cost system.
