TransferWise Rebrands To Wise – To Hire Over 70 Staff For S’pore Office

Global tech company TransferWise announced today (February 22) that it has undergone a rebranding, rebranding it to Wise.

Launched in 2011, Wise started as a money transfer service for consumers, and has since grown to create a cross-border payments network that aims to make international banking cheaper, faster and smoother.

It is considered one of the fastest growing tech companies in the world, having raised over US $ 1 billion (S $ 1.8 billion) in primary and secondary transactions from investors.

To date, 10 million people and businesses use Wise, which processes more than £ 4.5 billion ($ 8 billion) in cross-border transactions each month, saving customers more than one billion pounds ($ 1.8 billion) per year.

Wise currently offers three products – Wise, Wise Business and Wise Platform – with money transfers being its primary service.

With the Wise account, individuals and businesses can hold money in 55 currencies, as well as send and spend money abroad.

“Today, our name catches up with the one for whom we are already building: a community of people and businesses with multi-currency lives. This community now even includes the banks themselves, ”said Kristo Käärmann, CEO and co-founder of Wise.

While they have evolved to solve more than just money transfer, Käärman says their mission remains the same: “We continue to make – and always will make – money without borders.

Following this rebranding, customers do not need to create a new account – they can still access their existing account using their current email address and password.

The final switch for all customers to the Wise brand will take place in March 2021.

More than 70 people will be hired in 2021

Wise is also strengthening its presence in Asia-Pacific with the expansion of its Singapore office.

It opened a new, larger office space in Paya Lebar (PLQ) 2, with amenities like a nursing room, private prayer space, nap rooms and recreation areas.

The company also plans to hire more than 70 people in Singapore this year. Some roles available include expansion, engineering, products, and operations.

Wise hopes this expanded presence will enable it to better serve regional consumers, businesses and banking partners, and drive business growth in new markets.

“We are delighted to double our commitment to Singapore – our Asia-Pacific hub – and the region as a whole as we celebrate our fourth anniversary in the country,” said Venkatesh Saha, head of Asia-Pacific expansion at Wise .

As Asia Pacific is their fastest growing region, expanding its presence here is a “strategic investment” that will help them achieve their goal of creating the best global cross-border payment network for its customers. .

Featured Image Credit: Wise

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Jothi Venkat

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