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Estonian FinTech unicorn TransferWise plans major expansion in Tallinn

TransferWise, a FinTech founded in Estonia to build the best way to move money around the world, announced a major expansion within the next six months, including 165 jobs to be created in Tallinn. The news comes following a period of exponential growth for the business, with revenue growing 70% in the last financial year to £302.6 million.

Despite the economic climate, Estonian-built startup unicorn TransferWise has continued to expand throughout 2020, now reaching nine million customers worldwide, from 14 offices across the globe, including Tallinn, London, Singapore, New York and Sao Paulo. Currently with 2,200 employees, almost half of them in Tallinn, the latest hiring goals will see the business grow almost a third, in the space of just half a year. The new roles will be available across all areas of the business, including engineering, finance, marketing and HR.

„We’re already improving international banking for nine million people and businesses, but this is just the very beginning,“ Kristo Käärmann, Founder and CEO of TransferWise said. „We need a lot of help beyond our current team of 2,200 people to achieve our mission of money without borders.“

TransferWise is adapting to the new COVID-19-created remote working preference situation perfectly. The company’s remote working policy allows TransferWise team members to work remotely for up to three months of the year.

„Working in distributed teams is in our DNA from the beginning, and we’re proud to be able to change and adapt our working practices to better suit our hard working teams,“ Käärmann noted. „Our remote working policy is designed with an international team at heart. We started TransferWise in 2011 distributed across 3 locations, and we have, over time, expanded to 14 offices.“

Great demand on Estonian brains

TransferWise, as expected, isn’t the only Estonian company announcing the readiness to expand and hire people in Estonia. According to Digipro, Milrem Robotics, the Estonian defence solutions provider, and Helmes, the international custom software development company headquartered in Tallinn, both revealed their plans to hire nearly 50 employees in Estonia. TransferWise is looking for 165 new employees in Estonia.

TransferWise is a global technology company that’s building the best way to move money around the world. Whether you’re sending money to another country, spending money abroad, or making and receiving international business payments, TransferWise is on a mission to make its clients’ lives easier and save them money.

Co-founded by Taavet Hinrikus and Kristo Käärmann, TransferWise launched in 2011. It is one of the world’s fastest growing tech firms having raised over $1 billion in primary and secondary transactions from investors such as D1 Capital Partners, Lead Edge, Lone Pine, Vitruvian, IVP, Merian Chrysalis Investment Company Ltd, Andreessen Horowitz, Sir Richard Branson, Valar Ventures and Max Levchin from PayPal.

Nine million people use TransferWise, which processes over $6 billion in cross-border payments every month, saving customers over $1.5 billion a year.

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