Wising up to hidden fees
Transferwise disrupted the traditional money transfer business with transparent fees and zero markup on the exchange rate. But to be viable, chief executive and co-founder Kristo Kaarmann makes clear, "everything we do must break even".
Add BT as a preferred source
KRISTO Kaarmann, chief executive of payments fintech Transferwise, celebrates Christmas a little differently from most Europeans.
Every December, the 40-year-old Estonian embarks on a month-long road trip around Africa on "Kotilda" - his 15-year-old motorcycle. This year, he rode Kotilda from Morocco in the North towards the Sahara desert, down through the jungles to South Africa, before heading east to Tanzania, Kenya and finally Ethiopia, he tells The Business Times.
At the end of his trip, Mr Kaarmann parks Kotilda at the nearest garage he can find, "stars" her location on Google Maps, and leaves with some hope of a reunion next December. The odds of this yearly gamble have played in his favour for five straight years.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Serenity Park condo owners lower asking price to S$440 million in second shot at collective sale
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
