IDCEE 2013: Can a tech startup eat the bankers' lunch? - Kristo Käärmann (Co-founder @ TransferWise)
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Kristo Kaarmann is the co-founder of TransferWise, the international money transfer platform. The business allows regular people to access the real mid-market exchange rate by cutting out traditional banking fees altogether. It charges only a tiny, totally transparent service charge.
In the two years since it launched, the business has transferred over £125m worth of customer money and has attracted $7.35m from investors such as Peter Thiel and Max Levchin, co-founders of PayPal.
Prior to starting TransferWise, Kristo was a management consultant with Deloitte Consulting and PricewaterhouseCoopers. He worked with European banks and insurers to modernise their processes and systems. Stunned by their inefficiency, he teamed up with Taavet Hinrikus, then Skype's director of strategy, to develop an entirely new system for moving money across borders.
At TransferWise, Kristo is in charge of operations, development, and compliance.
Pic's are here: http://www.flickr.com/photos/idcee/sets/
More @ http://idcee.org
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