I recently spoke with Kristo Käärmann, founder of the Estonian unicorn TransferWise, at a great business event #Latitude59 in Tallinn (Estonia). Kristo speaks about how Transferwise disrupts the finance industry. He expects a boom in P2P lending, more disruptions in insurance and mortgage sectors.
Kristo was “white slaved as management consultant at Deloitte and PwC” a while ago but now has a cool job with mission. TransferWise is solving a 500bn cost & speed problem – slow and costly transfers of money between countries. The firm has saved €180milion for clients to date and is on radar of top investors. Earlier this year, Andreessen Horowitz (@a16z) – one of the world’s largest investment firms – invested $58 million in the company, with participation also from previous backers Sir Richard Branson, Peter Thiel’s Valar Ventures, Index Ventures, IA Ventures, and Seedcamp. In the past, a16z funded Facebook, Twitter, Airbnb, Github or Pinterest.