The Estonian-founded, London-based, money transfer startup, TransferWise, has launched its service in the US and opens an office in New York City.
Joe Cross, one of the company’s early employees, will lead the New York office as General Manager. He will be building a team from the new hub in New York’s Soho West. Cross previously worked as the company’s head of marketing. Prior to this, he was head of strategy and brand at shopping and travel site Kelkoo.
The launch follows a recent US$58 million funding round led by Andreessen Horowitz, the VC firm founded by Netscape and Opsware founders Marc Andreessen and Ben Horowitz. TransferWise pledged to use this investment to expand globally, and its US launch represents the start of its ambitious international rollout.
In the coming months, TransferWise plans to open offices in Germany and Australia and launch another 300 currency routes later in the next year.
TransferWise was founded in London by Estonians Kristo Käärmann and Taavet Hinrikus in early 2011, making transfers between just the British pound and euro. It now has 250 members of staff, 292 currency routes and continues to grow between 15-20 percent a month.
Cover: TransferWise founders Kristo Käärmann and Taavet Hinrikus.