This article will analyze TransferWise's advantages, business model, and what are the companies that are benchmarking against it? Is its business model replicable? Today, the author will analyze it for you. The author recently came into contact with some Fintech companies that want to do P2P international remittance. When I talked to them about the text message service company's vision or product positioning, many of them mentioned the name of a company - TransferWise. Many people define themselves as China's TransferWise, or Africa's TransferWise and so on. So, what are the advantages of TW, and what is the business model? Do you know the companies that are benchmarking against him? Can it be reproduced? Today, the author will analyze it for you. Origins of TransferWise TransferWise is a platform that provides international remittance transfer services.
It was established in 2011 and is headquartered in London. Since its establishment in 2011, it has attracted more than 5 million users and has offices in 12 regions around the world. The monthly cumulative transaction processing volume Reached $5.1 billion, text message service and after the Series E financing, the valuation has reached $3.5 billion. The founders of the company are was Skype's head of strategy and was Skype's first employee. Another co-founder, is a financial expert who has been involved in strategy formulation at the world's big four accounting firms Deloitte and PricewaterhouseCoopers. So, how did TransferWise come about? In fact, the story of these two friends may be familiar to many people: was sent to work in Skype's Estonian branch, where he needed to exchange a portion of euros for pounds each month to
send to his wife in London. And works at Deloitte in London. After getting a job every month, he needs to exchange some pounds for euros and send it back to Estonia to text message service repay the mortgage. Taavet found that monthly international transfers were not only expensive, there was also an implied exchange loss, and it took several days to receive the money. So Taavet came up with a solution: Taavet remits a British pound to Kristo’s bank account in London every month. In exchange, Kristo remits the equivalent amount of euros to Taavet’s account in Estonia every month, so that the two people only need to pass the local bank account every month. The transfer solves the trouble of international exchange. As for the handling fee, if it is a local transfer between peers,
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