2020 was a year like no other. Wise came out stronger and hungrier than ever before. As the year comes to a close, we wanted to look back at the learnings and highlights.
In 2020, we:
- raised two funding rounds, Seed and Series A.
- quadrupled our team.
- built out the Wise brand, its identity & value proposition.
- embedded Banking in partner ecosystems, like RoadSync.
- originated bank accounts in under 90 seconds, in what we think is the industry-leading new account decisioning (powered by WiseScore).
- launched the Wise (Black) Card.
- poc'ed the Wise purpose-built banking core, that could potentially work with any bank, any payment form factor, in any country.
We made it simple for our partners - “We built Banking so you don’t have to”.
Our partner embeds Banking powered by Wise, with zero code (or calories for that matter) and partakes in all the upside, via industry-leading rev share offered only by Wise.
In this process, we have landed a unique market position via a fully managed Banking as a Product (mBaaP), while the Banking as a Service (BaaS) providers continue to add to an already crowded market.
In our humble opinion, BaaS is a misnomer as providers in that space are under-playing the complexities of banking operations – compliance, onboarding, credit & fraud risk management – as these functions fall squarely with the program manager of the BaaS services. Partner/brand/channel can plug & play banking and be assured that all of the banking operations are fully managed by Wise 24x7x365.
Wise enters 2021 with:
- a validated thesis (B2B2B partnership model).
- live partners (with an expanding pipeline).
- a purpose-built banking platform.
- a superb team.
- fantastic industry pros joining the team (to be announced shortly).
- and most importantly, lots of support ringside.
Our 5H values will continue to be the North Star; hungry, honest, humble, healthy & happy. A big thank you to the team, our customers, partners, and investors, for your continued support of Wise. We will continue to have fun, doing what we are doing. Here is to 2021.
On behalf of the Wise family,
Arjun Thyagarajan (CEO)
Raghav Lal (President)
