Launch year: Dec 1, 2018
Country: USA
Funds raised: USD 5.7mm


Concept description

Wise is a challenger bank bundling payments, banking, payroll and accounting services with a focus target market of small businesses. Customer acquisition is achieved through established ecosystems such as utilizing partnerships with Shopify.

Wise was founded in December 2018 and launched in 2019 in partnership with BBVA. Now Wise has a customer base of 1,000+ small businesses, with a client profile averaging around 2-10 employees and generating $500,000 – $5,000,000 annual recurring revenue.

Wise is currently backed by Base10, Abstract Ventures, Techstars, The Fund, and Two Culture Capital. The latest funding round was a $5.7M seed round led by Base10.


Value proposition

Wise offers a bundled banking solution that expands traditional banking offerings to include specific features catered to small business needs. Wise offers features including managing payments, accounting and employee payroll.

With the advent and growing popularity of challenger banks primarily targeting retail customers, Wise addresses the gap in the market for small business focused solutions by integrating additional functionality to deliver a bundled solution. In this way, Wise creates a one-stop-shop with a core banking product and grows through adding additional features.

Features include:

  • Digital Banking – Banks are able to open accounts directly on Wise
  • Built-in Payment Feature to Employees / Contractors / Vendors – Outgoing payments is integrated into Wise to monitor and track payments directly to recipients
  • Invoicing Requests – Payments can be requested from Wise
  • Card Reader
  • Cheque Deposit



Illustration (Video)
PHP Code Snippets Powered By :
Scroll to Top