TransferWise becomes Wise

London-based TransferWise has been renamed as Wise and expanded its Singapore office to larger premises with more than 70 additional headcount in 2021.

Launched in 2011, the money transfer company has built a cross-border payments network that makes international banking cheaper, faster and more pleasant for its 10 million individual and business customers. It processes S$8b in cross-border transactions every month, with customers saving about S$1.8b annually compared to making the same transaction with a bank.

“Today our name catches up with who we’re already building for – a community of people and businesses with multi-currency lives. That community now even includes the banks themselves. Our mission remains the same. We’re still making — and always will be making — money work without borders,” said Kristo Käärmann, CEO and Co-founder of Wise.

Located at PLQ 2, the expanded Singapore office is designed to create a conducive environment with spaces to suit different working styles and needs, including a nursing room, private prayer space, nap rooms, and recreational zones.

“We are excited to double down on our commitment to Singapore — our Asia Pacific hub — and the wider region as we mark our fourth anniversary in the country. Asia Pacific is our fastest growing region; expanding our presence here is a strategic investment that reflects our commitment to building the best global cross-border payments network for our customers in the region and around the world,” said Venkatesh Saha, Head of APAC Expansion at Wise.