The story of Wise, a multi-billion fintech started by accident

If you grow up in a situation where a whole country has to be made from scratch, creating a game-changing financial technology start-up such as Wise doesn’t seem so outlandish.

Kristo Käärmann
Wise co-founder Kristo Käärmann: “Neither of us wanted to start a company”
(Image credit: © Wise)

For a fintech company, Wise – which has just completed London’s blockbuster float of the year – “had a refreshingly analogue birth”, says The Economist. It all began when co-founders Kristo Käärmann and Taavet Hinrikus, two Estonians living in London, met at a party in 2007 and discovered they had a gripe in common: rip-off currency exchange rates when moving cash to and from their home country. They hatched a plan to fix the problem.

A simple idea and a big break

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Jane writes profiles for MoneyWeek and is city editor of The Week. A former British Society of Magazine Editors editor of the year, she cut her teeth in journalism editing The Daily Telegraph’s Letters page and writing gossip for the London Evening Standard – while contributing to a kaleidoscopic range of business magazines including Personnel Today, Edge, Microscope, Computing, PC Business World, and Business & Finance.

She has edited corporate publications for accountants BDO, business psychologists YSC Consulting, and the law firm Stephenson Harwood – also enjoying a stint as a researcher for the due diligence department of a global risk advisory firm.

Her sole book to date, Stay or Go? (2016), rehearsed the arguments on both sides of the EU referendum.

She lives in north London, has a degree in modern history from Trinity College, Oxford, and is currently learning to play the drums.