July 18, 2019 / 10:03 AM / 4 months ago

MOVES-Fintech startup TransferWise adds Adyen CFO, former Netflix CFO to its board

NEW YORK, July 18 (Reuters) - Money transfer startup TransferWise has appointed Adyen NV Chief Financial Officer Ingo Uytdehaage and former Netflix Inc CFO David Wells and to its board, the company said on Thursday.

Wells and Uytdehaage are joining the board of the London-based company as non-executive directors, TransferWise said.

Uytdehaage will chair the board's audit and risk committee, the company said.

TransferWise, one of Europe's most well-known fintech startups, has gained popularity by offering a simpler and cheaper alternative to banks for international money transfers.

Launched in 2011, by Estonian duo Taavet Hinrikus and Kristo Kaarmann, the company serves 5 million customers worldwide and processes 4 billion pounds ($5.08 billion) each month.

In May, it announced it had closed a $292 million secondary funding round, which doubled its valuation to $3.5 billion.

Before the appointment of Wells and Uytdehaage, TransferWise's board was composed of the company's founders and two of its investors, Alex Rampell from Andreessen Horowitz and Roger Ehrenberg from IA Ventures.

"We know that with these hires, we have not made our board any more diverse," Kaarman, TransferWise's chief executive, said in a blog post announcing the appointments. "We will be expanding our board in the future, and we're committed to increasing the diversity of the board as part of that."

The company has been on a hiring spree, and is preparing to welcome 750 new recruits in the next 12 months, according to the blog. (Reporting by Anna Irrera; editing by Jonathan Oatis)

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