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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".

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“I think a big reason why some companies in this industry are not profitable is because they have built a product that their customers are not paying for, or not paying enough for.” - Kristo Kaarmann.

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...