Wise strengthens its footprint in India. With the opening of a new hub in Hyderabad, the company plans to recruit hundreds of new talents. This initiative illustrates the crucial importance of India in the global money transfer sector.
Since its inception in 2013, Wise has played a crucial role in money transfers to India, facilitating around 10% of all amounts sent from abroad to this country. The hub in Hyderabad, set to open in the second half of 2025, will host teams dedicated to product development, engineering, and service operations. Under the leadership of Smrithi Ravi, Wise aims to develop a robust infrastructure suited to the diversity and complexity of the APAC region. At the same time, the new international account feature will enable freelancers and businesses to receive payments in eight different currencies, thus offering exchange rates at the market mediator. This advancement addresses identified challenges such as high transaction fees and complicated processes, thereby improving the experience for Indian users.
Wise strengthens its presence in India with a new complete hub
Wise, the global leader in money transfers, is ramping up its investment in India by announcing the opening of a new complete hub in Hyderabad. This strategic expansion anticipates the hiring of hundreds of employees in the coming years, thereby consolidating Wise’s position in the Indian market. Since 2013, Wise has played a crucial role in the movement of international funds to India, providing reliable and innovative solutions for the Indian diaspora. Today, about 10% of all transactions sent from abroad to India go through Wise, reflecting the growing trust users have in its services.
The new hub, set to open in the second half of 2025, will be Wise’s nerve center in India. Initially, it will host key regional teams in product, engineering, and service operations, with plans for expansion to include global product development and operations as recruitment intensifies. This initiative is part of Wise’s vision to transform the international money transfer market, valued at £32 trillion, by making transfers faster, cheaper, and more convenient for millions of customers worldwide.
The opening of this hub in Hyderabad also strengthens the local fintech ecosystem, providing new job opportunities and boosting technological innovation. This momentum aligns with the 10 dynamic fintech hubs according to Fintech Magazine, where Hyderabad stands out as an emerging center for financial innovation in India.
What is the strategy behind Wise’s investment in India?
Wise’s investment in India is driven by the recognition of the country as a key player in the global funds movement. With a significant Indian diaspora spread across the world, India represents a key market for money transfer services. By establishing a complete hub in Hyderabad, Wise aims to enhance its ability to effectively meet the specific needs of Indian users, while leveraging the wealth of local talent in engineering and product development.
This strategy is also supported by a deep understanding of the Indian regulatory and economic landscape, allowing Wise to navigate agilely through a complex and diverse environment. By building direct connections with local payment schemes in India, as well as in Australia, Singapore, and recently the Philippines, Wise can offer more integrated and efficient payment solutions.
Furthermore, this expansion aligns with global trends in the fintech sector, where collaboration with incubators and other startup acceleration initiatives plays a crucial role in the development of new products and services. By investing heavily in local infrastructure and talent, Wise positions itself as an essential player in transforming financial services in India.
How does the new international account details feature benefit users?
Wise recently unveiled an innovative new feature called international account details, designed to facilitate international transactions for freelancers and businesses. This feature allows users to receive payments in eight different currencies, including USD, GBP, EUR, AUD, and SGD, at the average market exchange rate, offering increased transparency and fairness in financial transactions.
For Indian businesses, this feature is particularly advantageous. It simplifies the process of receiving international payments by providing account details specific to each currency, thereby eliminating high transaction fees and complications related to exchange rates. According to an independent study by Benori Knowledge, high transaction fees (40%), non-transparent pricing (37%), and complicated processes (31%) represent the main challenges for Indian businesses receiving payments from abroad. Wise’s new feature directly addresses these issues by offering a transparent and cost-effective solution.
Additionally, this feature builds on a deep understanding of local needs, allowing Wise to customize its services to meet the specific requirements of Indian clients. This customer-centric approach strengthens Wise’s position as a trusted financial partner, capable of providing tailored and effective solutions in a constantly evolving market.
The impact of the opening of the Hyderabad hub on the Indian fintech ecosystem
The opening of the Hyderabad hub by Wise will have a significant impact on the fintech ecosystem in India. By attracting a large number of talented professionals in product, engineering, and operations, Wise contributes to the creation of quality jobs and stimulates technological innovation. This expansion creates an environment conducive to collaboration and idea exchange, fostering the development of new financial solutions that meet the varied needs of users.
Moreover, Wise’s increased presence in the region encourages other fintech companies to invest in similar hubs, thereby reinforcing India’s position as a global center for financial innovation. This momentum is comparable to that observed in other regions known for their dynamic fintech ecosystems, as highlighted in the 10 dynamic fintech hubs according to Fintech Magazine.
Wise’s initiative also aligns with government initiatives aimed at promoting innovation and financial technology in India. By collaborating with incubators and supporting local startups, Wise contributes to the growth and diversification of the fintech sector, thereby creating a robust and resilient ecosystem capable of supporting the country’s growth ambitions.
What role does Smrithi Ravi play in this expansion?
Smrithi Ravi, the engineering director for the APAC region at Wise, plays a key role in the company’s expansion in India. After more than six years at Wise’s regional hub in Singapore, where she led a team of over 30 engineers, Smrithi brings valuable expertise and strategic vision to the new Hyderabad location. Her relocation to India marks an important step in consolidating Wise’s operations in the APAC region.
According to Smrithi, the teams based in Hyderabad will be essential for the development of Wise’s overall infrastructure and the development of innovative products. “I am looking for people passionate about building products that make a real impact on customers and self-starters who are ready to solve some of the most complex problems in international money movement,” she said.
With her experience and leadership, Smrithi Ravi is well-positioned to guide the Hyderabad team to success. Her focus on innovation and operational efficiency ensures that Wise will continue to provide cutting-edge financial solutions that meet the evolving needs of users in India and around the world.
How does this initiative align with Wise’s overall mission?
Wise’s expansion in India and the introduction of the international account details feature perfectly align with the company’s overall mission: to transform the international money transfer market. Wise aims to make money transfers faster, cheaper, and more transparent for millions of users worldwide. By targeting key markets like India, Wise can maximize its impact and reach a broader audience with solutions tailored to local needs.
This initiative also reflects Wise’s commitment to continuous innovation. By investing in complete hubs and developing new features, Wise demonstrates its willingness to stay at the forefront of financial technology, anticipating and responding to the challenges of the global market. This proactive approach is essential for maintaining Wise’s leadership position in a highly competitive sector.
Moreover, the emphasis on creating products based on a deep understanding of local customer experience underscores Wise’s commitment to customer satisfaction and loyalty. By offering services that directly address the challenges users face, Wise strengthens its reputation as a provider of reliable, customer-oriented financial solutions.
Finally, the expansion in India allows Wise to contribute to local economic development by creating quality jobs and supporting the fintech ecosystem. This corporate social responsibility reinforces Wise’s mission as a committed player in global financial progress.
