Wise`s Direct Listing

Case Code: FINC202
Case Length: 13 Pages
Period: 2010- 2021
Pub Date: 2023
Teaching Note: Available

Price: Rs.300
Organization: Wise Plc.
Industry: Financial Services
Countries: United Kingdom
Themes: IPO, Going Public

Abstract Case Intro 1 Case Intro 2 Excerpts

Background Note

It was in 2010 that two friends – Taavet Hinrikus (Hinrikus), an ex-employee of Skype, and Kaarmann, an ex-employee of Deloitte – grew frustrated with the high fees involved in transferring money between Estonia, northern Europe, and the UK. Hinrikus, who had moved from Estonia to the UK a few years earlier, had to transfer money from his account in Estonia to another account in the UK. But for each transfer, he had to pay a 5% transfer fee. Likewise, Kaarmann, who worked in the UK, had to make a money transfer to Estonia on a regular basis for paying his mortgage. For this, he too was paying a transfer fee of 5%. Both Hinrikus and Kaarmann also observed that the time and money involved in traditional methods of sending money abroad was very high..

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