Biography of Taavet Hinrikus – Co-founder of Wise (TransferWise)
Taavet Hinrikus, co-founder of the money transfer company Wise (formerly TransferWise), is a pioneer of Fintech European. His journey, his role at Skype to the creation of one of the first international money transfer fintechs, is inspiring for many entrepreneurs in the technology sector. This article traces his career and the key moments of his rise in the business world.
The Beginnings of Taavet Hinrikus
Taavet Hinrikus was born in Estonia, a country from which he drew his first technological inspirations. Graduating with an MBA from INSEAD in 2010, he quickly built a reputation as an indispensable player in the technology sector. His first major role was that of director of strategy at Skype, where he was also one of the very first employees. Between 2003 and 2008, Taavet studied the international mechanics of digital businesses, which prepared him for his future ventures.
Skype: A First Significant Experience
At the house of Skype, Taavet played a crucial role in developing the strategies that allowed the platform to revolutionize online communications. As Chief Strategy Officer, he helped transform a young technology company into a major global player. This experience gave him a unique perspective on the needs and challenges of international money transfers, which will prove valuable for his future projects.
The Creation of Wise (TransferWise)
In 2011, Taavet Hinrikus and Kristo Käärmann, a fellow Estonian, co-founded TransferWise – the company today known as Wise. The main idea came from the two entrepreneurs’ own experiences: Taavet lived in London but was paid in euros, while Kristo received his salary in pounds sterling while residing in Estonia. Together, they identified a key problem many people were experiencing: the exorbitant fees and inefficient exchange rates of traditional banks.
From Uncertain Beginnings to a Fintech Revolution
The vision of Wise was simple but revolutionary: allowing people to transfer money internationally with no hidden fees and fair exchange rates. The early days of the business were filled with challenges, but with effective strategy and a deep understanding of the market, the brand quickly gained popularity. Today, Wise transfers billions of euros each month and offers diversified financial services.
The Current Role of Taavet Hinrikus
Eleven years after the founding of Wise, Taavet left his position as CEO but continues to play a leading role in the Fintech. Currently a partner at Plural, an investment company, he supports other serious founders eager to disrupt established industries. He also acts as digital advisor to the Estonian Prime Minister, emphasizing his commitment to promoting technological innovation in his home country.
A Lasting Legacy
Taavet Hinrikus is not content with reaping the fruits of his success; it actively seeks to support the next generation of entrepreneurs. His journey proves that innovation and determination can turn simple ideas into successful multinational businesses. Through Wise, Taavet has helped shape the future of financial services and remains a source of inspiration for start-up founders around the world.
- Nationality: Estonian
- Age: 42 years old
- Residence: London, United Kingdom
- Co-founder and President of Wise
- Director of Strategy at Skype until 2008
- Partner at Plural, an investment fund
- Digital Advisor to the Prime Minister of Estonia
