TransferWise raises $58M in Andreessen Horowitz-led Series C

London-based online currency transfer outfit TransferWise has raised a $58 million Series C round that was led by Andreessen Horowitz. This follows a $25 million Series B round just seven months ago, which included Virgin chief Richard Branson and original backer Peter Thiel (who are also in the current round, along with Index Ventures, IA Ventures and Seedcamp.) Like CurrencyFair over in Ireland, TransferWise uses cash reserves in various countries to bypass the banks and offer conversion rates that are far cheaper than those offered by traditional banks and remittance services. According to the Financial Times, Andreessen Horowitz won a competitive bidding process to invest in TransferWise, which is now valued at “close to $1 billion”.

Transferwise adds more currencies: dollar on the way?

London currency exchange startup Transferwise has teamed up with a neighbor, The Currency Cloud, to let people transfer money between a range of European currencies. But is the next stop for the disruptive finance company going to be the US dollar?

€10m Transferwise blows a raspberry at bankers

London-based peer to peer currency exchange Transferwise has passed €10 million in transactions, saving customers nearly half a million Euros in fees that would have otherwise landed in the hands of the banking industry.