TransferWise co-founder Kristo Käärmann explains the move.
“At TransferWise, we’re helping people manage their money by making it fair, fast and low-cost to send money internationally. Our membership in the Internet Association is important as we look to engage policymakers so we can help create a more transparent and efficient and financial system that is fit for the twenty-first century.”
Co-founded by Taavet Hinrikus and Käärmann in 2010, TransferWise has tapped into frustration with high fees on international money transfers. TransferWise has been recognized as a World Economic Forum Technology Pioneer, CNBC 50 Disruptor and Forbes Fintech 50 member and has attracted investment from Andreessen Horowitz, Sir Richard Branson, Peter Thiel and former Citibank Group CEO Vikram Pandit.
“The Internet Association is thrilled to welcome TransferWise to our membership, as we work to advance pro-Internet public policy solutions that foster innovation, promote economic growth, and empower people through the free and open Internet,” said Michael Beckerman, Internet Association President and CEO. “TransferWise is a perfect example of how the Internet can be used to increase quality and reduce prices for users worldwide.”