TransferWise opens initial American office

International money transfer platform TransferWise has opened their first U.S. office in Tampa, Fla.

Based on peer-to-peer technology, TransferWise saves customers money on international transfer fees because they pair people sending money out of a given country with those receiving money in that same country. Only the mid-market rate is charged, making TransferWise up to 10 times cheaper than other options.

That model has caught the attention of some heavy hitters in the fin-tech investment community. TransferWise has raised $91 million from Peter Thiel, Richard Branson, Max Levchin and Andreessen Horowitz, among others.

TransferWise was founded in 2011 by initial Skype employee Taavet Hinrikus and Kristo Kaarmann. More than $750 million is transferred through the platform each month, with customer savings estimated at $34 million.

Just under 50 employees have been hired. An additional 200 positions are planned within the next three years.

Learn more about TransferWise:

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