“ We continue to grow quickly but sustainably . We remain well-controlled ; reinvesting and generating a growing level of profitability ,” says Käärmann .
Beyond his professional achievements , Käärmann remains dedicated to education and technology . He and his team at Wise organised an open tech school in the Estonian language for children being homeschooled and helped inspire the next generation of tech enthusiasts .
Kristo Käärmann ’ s journey from a young tech enthusiast in Estonia to a global fintech leader epitomises the spirit of disruptive innovation . Born in Estonia , Käärmann ’ s early fascination with technology and mathematics set the stage for a remarkable career . His visionary leadership at Wise has revolutionised how customers send money abroad , establishing new benchmarks for transparency and efficiency in financial services .
Under Käärmann ’ s guidance , Wise has significantly lowered the cost of international money transfers , reducing fees to an average of 0.67 % and making transactions more accessible for millions of users worldwide . Käärmann ’ s commitment to financial transparency is evident in his statement : “£ 150bn is the amount people all over the world still pay unknowingly in hidden fees every year .”
His innovative approach and relentless pursuit of efficiency have driven Wise to develop faster transfer methods . In Q1 2024 , 62 % of all transfers were instant , meaning they were completed in under 20 seconds , up from 55 % in Q1 2023 .
Additionally , Wise ’ s expansion into new markets , such as transfers to Fiji and increased transfer limits to China , reflects Käärmann ’ s global vision .
Kristo Käärmann ’ s contributions continue to resonate globally , not only through Wise ’ s financial innovations but also through his influence on the broader fintech landscape . His efforts have helped to democratise financial services , making them more affordable and accessible to people around the world .
As he takes a brief sabbatical to spend time with his family , the impact of his work at Wise endures , setting a high standard for the future of financial technology .
28 August 2024