Taavet Hinrikus

TransferWise, the money-moving service launched by former Skype director of strategy Taavet Hinrikus, is allowing start-ups to transfer up to $100m between different currencies without paying any fees.

The offer is open to 1,000 businesses that launched in the past two years on a first-come, first-served basis; they can transfer up to $100,000 each over the next year. TransferWise would normally collect around $500,000 in fees on the whole lot – $3m or so less, it estimates, than banks would. Read more