Wise, a digital bank account that is designed to make and recieve payments worldwide, has the support of Luxembourg. The company is an alternative to costly banks like HSBC in Europe. Wise’s services are available for companies with registered offices in Luxembourg.
You can get an account for your company HERE
With Wise, companies can send or receive international payments at a lower cost than traditional channels while still maintaining control of their finances. The service is available to companies with registered offices in Luxembourg.
The main benefit of Wise is the fact that the company makes transfers by using a peer-to-peer network (P2P) where the actual transfer occurs from one bank account to another. The money is then converted to a local currency and sent on to the recipient’s bank account. Payments can also be made back into your local currency and sent on to your account with Wise, avoiding the risk of fluctuations in conversion rates or an adverse exchange rate.
Wise has ambitions to become the leading P2P platform for international money transfers. The company’s goal is to remove the expense of traditional financial services and make it possible for its customers to transfer money as easy as sending an email.
Wise’s new CEO, Taavet Hinrikus, claims “Our mission is to free up billions of dollars in global remittances which had been trapped in traditional banks’ cost structures. We also want to free up the cash in those banks’ vaults, which is currently locked up and unavailable for lending to businesses and individuals.”
The company was founded by Estonian entrepreneurs Taavet Hinrikus and Kristo Käärmann in 2014. Since its inception Wise has grown rapidly. In early 2015, it launched its beta (beta) platform with over 100,000 users in 30 countries. Its success led to an investment from Nordic venture capital firm Northzone. Wise secured $25 million at a $58 million valuation during its first round of funding in early 2015. Wise’s service is available in 30 countries and the company has over 300 employees worldwide. Taavet Hinrikus, formerly Skype’s first employee, is now the company’s CEO. Kristo Käärmann remains on the board as Chairman and will focus his time on building partnerships with financial institutions in Europe and Asia.
Check out the service HERE
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