Who Owns Wise Company?

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Who Owns Wise?

Understanding Wise's ownership is key to grasping its strategy and accountability in the global fintech arena. Co-founded by Taavet Hinrikus and Kristo Käärmann in 2011, the company aimed to transform international money transfers.

Wise, initially TransferWise, has evolved from a startup to a publicly traded entity. Its journey reflects a commitment to innovation in cross-border payments, offering services like multi-currency accounts and debit cards.

Who owns Wise?

Wise's ownership structure has evolved significantly since its founding. Initially held by its co-founders, Taavet Hinrikus and Kristo Käärmann, the company's public listing on July 7, 2021, through a direct listing, introduced a broad base of public shareholders. By July 11, 2025, its market capitalization stood at approximately $18.529 billion USD. In fiscal year 2025, Wise served over 15 million customers, processing around £145 billion in transactions and holding customer balances totaling £21.5 billion. This public ownership means that a significant portion of the company is held by institutional investors and individual shareholders, influencing its governance and strategic decisions. The company's offerings, such as its Wise BCG Matrix, are managed within this ownership framework.

Wise Company, formerly known as TransferWise, was established in January 2011 by two Estonian individuals residing in London. Their shared experience with the high fees and lack of clarity in international money transfers fueled their ambition to create a more efficient and transparent system.

Founding Visionaries

Taavet Hinrikus, an early employee at Skype, and Kristo Käärmann, who previously worked in consulting at Deloitte, are the founders of Wise Company. They were driven by personal frustrations with traditional remittance services.

Founding Year

Wise Company officially began its operations in January 2011. The company was founded in London, United Kingdom.

Early Funding Rounds

The company secured its initial seed funding of $1.3 million from a group of investors. This early backing was crucial for its establishment in the fintech sector.

Key Early Investors

Notable early investors included venture firms like IA Ventures and Index Ventures. Prominent individuals such as Max Levchin, a co-founder of PayPal, also supported the company.

Significant Investment Milestone

In May 2013, Wise Company raised $6 million in a funding round. This investment was led by Valar Ventures, a firm associated with Peter Thiel.

Founder Ownership at Listing

At the time of its direct listing in 2021, Kristo Käärmann held an 18.8% stake, valued at approximately £1.5 billion. Taavet Hinrikus owned 10.9%, worth around £1.1 billion.

The ownership structure of Wise Company, particularly its use of Class A and Class B shares, was designed to ensure that the founders and early investors maintained substantial control over the company's direction and strategic decisions. This approach was instrumental in navigating the competitive landscape of the fintech industry and shaping the company's growth trajectory. Understanding the Target Market of Wise also sheds light on the strategic decisions made during its early stages.

Founders' Impact on Ownership

The founders' significant stakes underscore their continued influence and commitment to the company's mission. This concentrated ownership by the founders is a key aspect of Wise Company's corporate governance.

• Founders: Taavet Hinrikus and Kristo Käärmann
• Initial Funding: $1.3 million
• Key Early Investor: Valar Ventures
• Founder Stake (2021): Käärmann 18.8%, Hinrikus 10.9%
• Company Structure: Class A and Class B shares for control

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The ownership structure of the Wise Company underwent a significant transformation with its direct listing on the London Stock Exchange in July 2021. This event marked its transition from a privately held entity to a publicly traded one, influencing who owns Wise Company and how its shares are distributed among various stakeholders.

The Wise Company's ownership is a dynamic mix, reflecting its journey from a startup to a publicly traded entity. As of July 11, 2025, its market capitalization stood at approximately $18.529 billion USD. The company employs a dual-class share structure, with Class A shares carrying one vote and Class B shares granting nine votes. This governance model was established to ensure that founders and early backers retain substantial influence over the company's strategic direction, even as public ownership grows. Understanding this structure is key to comprehending the Wise Company's corporate governance and decision-making processes.

Key Stakeholders and Their Influence

The Wise Company's ownership is spread across several key groups, each with varying degrees of influence. Institutional investors represent the largest bloc, while the founders maintain significant voting power.

• Institutional investors collectively hold over 54% of the company's shares.
• Founders, including Kristo Käärmann and Taavet Hinrikus, collectively own a substantial portion and hold significant voting rights.
• Major institutional shareholders include BlackRock Inc. (10%), Vanguard Group (8%), and Fidelity Investments (5%).
• The dual-class share structure is a critical element in maintaining founder influence, impacting the Growth Strategy of Wise.

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The board of directors at Wise plc is composed of individuals representing major shareholders, the company's founders, and independent members, ensuring a balance in governance. David Wells assumed the role of Chairman in 2021, succeeding co-founder Taavet Hinrikus. Kristo Käärmann, also a co-founder, continues to serve as the Chief Executive Officer.

Wise operates with a dual-class share structure, a key element in its ownership and voting power dynamics. This structure includes Class A ordinary shares, each with one vote, and Class B ordinary shares, which carry nine votes per share. As of November 1, 2024, the total exercisable voting rights amounted to 2.7 billion. This arrangement is designed to allow founders and early investors to retain significant control over the company's direction.

Understanding Voting Power at Wise

The dual-class share structure significantly influences voting power. Kristo Käärmann, as CEO, has his voting rights capped to ensure no single shareholder has absolute majority control.

• Class A shares: 1 vote per share
• Class B shares: 9 votes per share
• Kristo Käärmann's voting rights are capped while CEO, set at one vote below 50% of total votes.
• If Kristo Käärmann ceases to be CEO, his voting cap reduces to one vote below 35%.
• This structure impacts how major shareholders influence resolutions, as seen in recent decisions.

Recent developments in 2025 have brought the complexities of Wise's voting structure to the forefront. Shareholders approved a proposal to move the company's primary listing to the US, a decision linked to extending the dual-class share structure until 2036. This bundling of issues led to public disagreement from co-founder Taavet Hinrikus, whose ownership vehicle holds approximately 11% of Wise's voting rights. Hinrikus advocated for separate votes on the listing and the share structure extension, expressing concerns that the extended enhanced voting rights could entrench management control. Despite these concerns, the special resolution saw strong approval, with nearly 91% of Class A shares and 84.5% of Class B shares voting in favor. This event underscores the ongoing discussions around Competitors Landscape of Wise and corporate governance within the company.

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Wise has seen significant shifts in its ownership structure over the last few years, culminating in a major decision to relocate its primary stock market listing to the United States. This strategic move, approved by shareholders in July 2025, aims to enhance the company's visibility and access to deeper capital markets, with an anticipated effective date in the second quarter of 2026.

The decision to move the primary listing to the US and extend the dual-class share structure until 2036 faced some opposition. Co-founder Taavet Hinrikus, through his investment vehicle Skaala Investments, publicly voiced concerns, advocating for separate votes on the listing and share structure changes. He emphasized the importance of governance structures that enhance value rather than entrench power. Proxy advisory firms also recommended voting against the proposal, citing worries about the retention of enhanced voting rights and potential management entrenchment. Despite these objections, the resolution garnered substantial shareholder support, with approximately 91% of Class A shares and 84.5% of Class B shares voting in favor.

US Listing and Valuation Impact

The planned US listing aims to increase awareness and access deeper capital markets. The company's valuation was around $17 billion as of July 2025, with expectations of a boost from the move.

Governance Concerns Raised

Co-founder Taavet Hinrikus and proxy firms raised concerns about the bundled vote and dual-class share extension. The focus was on governance structures that support value enhancement and avoid entrenchment.

Institutional Investor Dominance

Institutional investors collectively own over 54% of the company as of July 2025. Major players like BlackRock, Vanguard, and Fidelity hold significant stakes, reflecting growing institutional interest in fintech.

Financial Performance and Growth

In fiscal year 2025, the company processed approximately £145 billion in transactions for over 15 million customers. Underlying income reached £1.2 billion, with a profit before tax of £564.8 million, supporting strategic investments.

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