Updated: TransferWise gives away $100m free money transfers to startups
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TransferWise is offering 1,000 European startups $100,000 worth of free international money transfers
Using a peer-to-peer model, TransferWise allows users to bypass the banks and find the best foreign currency exchange and transfer rates.
Usually, TransferWise customers pay a small service charge to access the service, but for the 1,000 startups that join the new campaign, it will be entirely free.
Support from across Tech City
Already 25 prominent startups and organisations – including Richard Moross of Moo, serial entrepreneur Sherry Coutu, Techstars’ Jon Bradford and Passion Capital‘s Eileen Burbidge – have lent their support to the campaign, which aims to help European startups save money and focus their resources on growing their business. Other London supporters include Seedcamp, Mendeley, 3Beards, Funding Circle, Skimlinks and Wayra.