Kristo Kaarmann is the co-founder of TransferWise, a peer-to-peer international money transfer business. The business is the first of its kind: it allows regular people to access the real mid-market exchange rate by cutting out traditional banking fees altogether. It charges only a tiny, totally transparent service charge. Prior to starting TransferWise, Kristo was a management consultant with Deloitte Consulting and PricewaterhouseCoopers. He worked with European banks and insurers to modernise their processes and systems. Stunned by their inefficiency, he teamed up with Taavet Hinrikus, then Skype’s director of strategy, to develop an entirely new system for moving money across borders.
TransferWise CEO: Robin Hood meets fintech
London-based TransferWise built its business with a mission to disrupt finance. Putting the fees added on by banks back into the pockets of consumers.