Wise
International money transfers at the real exchange rate — a UK alternative to PayPal and Western Union.
Overview
Wise is a London, United Kingdom-based European company building fintech and payments software since 2011. As an EU-headquartered provider, Wise operates under GDPR and is outside the reach of the US CLOUD Act, making it a privacy-friendly alternative to well-known US incumbents for European teams.
Why European teams pick Wise
Teams in Europe pick Wise when they want a fintech provider that bills in EUR, supports their local data-protection officer requirements, and keeps customer data under United Kingdom law, operating since 2011. Compared with well-known US incumbents, Wise avoids cross-border data transfers under Schrems II and the US CLOUD Act, which is often the deciding factor for European procurement and legal teams.
See more EU fintech tools or browse other startups from United Kingdom.
About
Wise (formerly TransferWise) is a UK-founded fintech founded in 2011 that offers international money transfers at the real mid-market exchange rate with transparent, low fees — typically far cheaper than bank wire transfers or PayPal. It provides personal and business accounts with local account details in 10+ currencies (GBP, EUR, USD, etc.), debit cards, and batch payment tools for payroll. Wise holds an Electronic Money Institution licence in Belgium and is regulated by the Financial Conduct Authority (UK). EU business accounts are operated from Belgium, with data processed under GDPR. Wise is the standard choice for European freelancers, remote teams, and businesses that receive or send payments in multiple currencies.
Details
- Founded
- 2011
- Headquarters
- London, United Kingdom
Other EU startups like Wise
- InvoiciaNorway — EU-hosted invoice management with PEPPOL e-invoicing, Norwegian VAT (MVA) support, Brønnøysund auto-lookup, and credit notes. GDPR-first.
- SumeriaFrance — French mobile bank with peer-to-peer payments and savings — formerly Lydia.
- PayplugFrance — Simple online and in-person payment solution for French businesses — a French alternative to Stripe.
- MangopayLuxembourg — White-label payment infrastructure for marketplaces and platforms — a Luxembourg alternative to Stripe Connect.
- SpendeskFrance — All-in-one spend management for finance teams — a French alternative to SAP Concur.
- PleoDenmark — Smart company spending with virtual cards and receipt capture — a Danish alternative to Expensify.
Frequently asked questions
What is Wise?
Wise (formerly TransferWise) is a UK-founded fintech founded in 2011 that offers international money transfers at the real mid-market exchange rate with transparent, low fees — typically far cheaper than bank wire transfers or PayPal. It provides personal and business accounts with local account details in 10+ currencies (GBP, EUR, USD, etc.), debit cards, and batch payment tools for payroll. Wise holds an Electronic Money Institution licence in Belgium and is regulated by the Financial Conduct Authority (UK). EU business accounts are operated from Belgium, with data processed under GDPR. Wise is the standard choice for European freelancers, remote teams, and businesses that receive or send payments in multiple currencies.
What does Wise do?
Wise is international money transfers at the real exchange rate — a uk alternative to paypal and western union. It is listed under fintech and payments on EU Alts because its core functionality serves teams looking for a European fintech tool with EU data residency, typically as a switch away from well-known US incumbents.
Is Wise a good European fintech alternative?
Wise is a fit for European businesses evaluating fintech options where data residency and GDPR alignment matter — typical buyers include EU-based SaaS teams, public-sector projects, regulated industries (healthcare, finance, legal), and any organisation that needs to demonstrate that customer data does not leave the EU. It also overlaps with payments use cases.
Is Wise GDPR compliant?
Wise is headquartered in London, United Kingdom and falls under EU jurisdiction, so it processes user data under the GDPR by default. Because the company is not US-incorporated, it is not subject to the US CLOUD Act — meaning US authorities cannot compel Wise to disclose customer data the way they can with well-known US incumbents. For European buyers, that often simplifies DPIA paperwork and standard contractual clauses.
How do teams switch from well-known US incumbents to Wise?
Most teams move to Wise from well-known US incumbents because they want EU data residency without giving up the core fintech workflow. Wise's United Kingdom base means a single jurisdiction for both the company and (typically) its hosting infrastructure, so you can drop Schrems II transfer impact assessments for this part of your stack. Plan the migration in stages: export your data from the US incumbent, pilot Wise with a small team, then move the rest once the integration coverage you need is confirmed.
Where is Wise based?
Wise is headquartered in London, United Kingdom. The company was founded in 2011. Its main website is https://wise.com.