Branson and Thiel join in $25M Series B round for forex upstart TransferWise

Gigaom

We’ve covered TransferWise quite a few times – along with one or two rivals such as CurrencyFair, the London-based financial technology startup offers a genuinely disruptive foreign exchange service that significantly undercuts the banks. Its backers apparently also continue to see great potential: having led TransferWise’s $6 million Series A round just over a year ago, PayPal(s ebay) co-founder Peter Thiel’s Valar Ventures has again participated in the firm’s $25 million Series B, alongside Index Ventures, Virgin boss Richard Branson, IA Ventures, TAG, and Le Monde owner Xavier Niel. TransferWise, run by former Skype(s msft) director Taavet Hinrikus, says it will use the funds for marketing.

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