Wise (TransferWise) Affiliate Program Review. UWise (formerly TransferWise) is a London-based financial technology company founded by Estonian businessmen Kristo Käärmann and Taavet Hinrikus in January 2011.
About The Company:
Wise was founded by Taavet Hinrikus, Skype’s first employee, and financial consultant Kristo Käärmann. Its system has been compared to the hawala money transfer system.
In its first year of operation, transactions through Wise amounted to €10 million. In 2012, Wise was named as one of “East London’s 20 hottest tech startups” by The Guardian, Start Up of the Week by Wired UK, one of five “start-ups to watch” at Seedcamp’s 2012 US Demo Day by TechCrunch, and made it to Startups.co.uk’s list of the top 100 UK start-ups of 2012.
In April 2013, Wise stopped letting users purchase Bitcoin, citing pressure from banking providers. Independent comparison site Monito revealed that Wise was on average 83% cheaper than the big four UK banks on major currency “routes”, but could be up to 90% cheaper in certain specific cases.
In May 2015, Wise was ranked No. 8 on CNBC’s 2015 Disruptor 50 list, and in August 2015, the company was named a World Economic Forum Tech Pioneer.
On 8 April 2017, an internal memo from British bank Santander claimed the bank would lose 84% of its revenue from its money transfer business if its charges were the same as Wise. Also in April 2017, the company announced the opening of its APAC hub in Singapore. In 2019, the company announced opening an office in Brussels. In May 2017, the company announced its customers were sending over £1 billion every month using the service, and that the company turned profitable six years after being founded.
On 21 January 2021, Sky News reported that Wise had appointed Goldman Sachs and Morgan Stanley as joint global co-ordinators for its planned initial public offering. On 22 February 2021, the company rebranded from TransferWise to Wise. As part of this rebranding, the company also launched a new website domain. The company rebranded to reflect its expanded product offering beyond international money transfer.
On 2 July 2021, it was announced in a prospectus published by the company that co-founder Taavet Hinrikus would step down as chair within a year.It was also announced that David Wells would replace him in this position.
On 7 July 2021, Wise went public by a direct listing on London Stock Exchange and was valued at $11 billion.
Wise received seed funding amounting to $1.3 million from a consortium including venture firms IA Ventures and Index Ventures, IJNR Ventures, NYPPE as well as individual investors such as PayPal co-founder Max Levchin, former Betfair CEO David Yu, and Wonga.com co-founder Errol Damelin. Wise also received investment after being named one of Seedcamp 2011’s winners.
In January 2015, it was announced that Wise had raised a $58 million Series C round, led by investors Andreessen Horowitz. In May 2016, Wise secured a funding of $26 million. This raised the company’s valuation to $1.1 billion. As of May 2016, Wise has raised a total of $117 million in funding.
In November 2017, the company raised a $280 million Series E led by Old Mutual Global Investors and IVP, as well as Sapphire Ventures, Japanese Mitsui & Co, and World Innovation Lab.
In May 2019, the company had the secondary investment round of $292 million and reached the total valuation of $3.5 billion, more than double the valuation Wise achieved in late 2017 at the time of its $280 million Series E round.
In July 2020, the company disclosed a secondary investment round of $319 million and reached the total valuation of $5 billion, led by new investor D1 Capital Partners and existing shareholder Lone Pine Capital. Vulcan Capital also came on board as a new investor, with Baillie Gifford, Fidelity Investments and LocalGlobe adding to their existing holdings
About The Wise (TransferWise) Affiliate Program:
Their minimum commission is £10 (or currency equivalent) for each new personal user. They offer higher rates for referred business users.
A new user is considered as someone who does not have a pre-existing Wise account and completes a successful cross-currency transaction anytime after clicking on the affiliate link. This will be counted as a conversion for the partner.
No conversion window limit
Localized content briefs (in 10+ languages)
The affiliate program is different from the Wise Invite program, which is only for referring friends and family from your personal network.
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