Grab Co-Founder Among New Pair of Directors at Wise
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The London-headquartered online money transfer service plans to expand its product globally over the next few years to lower the cost of international transactions.
Wise has appointed Tan Hooi Ling, co-founder of super app Grab, and Clare Gilmartin, former CEO of digital rail ticketing platform Trainline, to its board as director designates, the company announced in a blog post on Tuesday.
The appointments will help the company with its next stage of growth, particularly in Asia Pacific, where the company operates in seven markets, co-founder and CEO Kristo Käärmann said in a the post. They will also help the board create a more inclusive work environment and more diverse and inclusive products, he said.
The company, which recently rebranded from Transferwise to Wise, opened a new office in Singapore in February 2021, which will be used as a base for regional growth, while announcing major hiring plans.
Wise was founded in 2011 by Estonians Taavet Hinrikus and Kristo Käärmann. Today, it boasts 10 million users which process over 4.5 billion British pounds ($6.3 billion) in cross-border transactions every month.
Questions & Answers
Q.What is the primary goal Wise aims to achieve with its product expansion plans?
What is the primary goal Wise aims to achieve with its product expansion plans?
Wise intends to expand its product globally over the coming years. This strategy is designed to reduce the expense of international financial transactions for its users. The company is focused on lowering these costs.
Q.Which specific region is highlighted as a focus for Wise's growth, and why?
Which specific region is highlighted as a focus for Wise's growth, and why?
The Asia Pacific region is particularly highlighted for growth, as Wise already operates in seven markets there. The co-founder noted that the new board appointments will assist with this next stage of expansion, using existing regional presence.
Q.How will the new director appointments contribute to Wise's internal operations and product development?
How will the new director appointments contribute to Wise's internal operations and product development?
The new directors are expected to help the board foster a more inclusive work environment within the company. Also, their expertise will contribute to developing more diverse and inclusive products for Wise's global customer base.
Q.Where did Wise establish a new office earlier this year, and what is its purpose?
Where did Wise establish a new office earlier this year, and what is its purpose?
Wise opened a new office in Singapore in February 2021. This facility is intended to serve as a base to support the company's regional growth initiatives. Major hiring plans were also announced in conjunction with its opening.
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