Early Life
Taavet Hinrikus was born on June 2, 1981, in Tartu, Estonia. He graduated from Miina Härma Gymnasium in 1999. His career path took an early turn when he left university to join the nascent startup Skype.
Rise to Success
Hinrikus's career took off when he became Skype's first employee, later serving as the Director of Strategy until 2008. This experience provided him with insights into building global digital products. In 2010, Hinrikus co-founded TransferWise (now Wise) with Kristo Käärmann. The company was created to address the high fees and unfavorable exchange rates of traditional banks. Wise's innovative approach of matching transfers locally revolutionized the industry, making international money transfers cheaper and more transparent. The company went public on the London Stock Exchange in July 2021.
Key Business Strategies
Wise's key business strategies include a focus on low costs, digital channels, and transparency. The company operates local accounts in each jurisdiction, enabling faster and cheaper currency transfers. Wise expanded its offerings to include multi-currency accounts and business services. Furthermore, Wise is expanding its North American hub in Austin, accelerating regional growth and innovation.
Philanthropy
Hinrikus is also involved in philanthropy. He co-founded the Jõhvi Coding School to increase the number of people with coding skills in Estonia.