Taavet Hinrikus: From Skype to Wise and Plural

Last Updated on July 30, 2026 by Business Blog Media Editorial Team

Introduction

Taavet Hinrikus is an Estonian technology entrepreneur and investor. He is best known as the first employee of Skype and a co-founder of Wise, the international financial technology company previously called TransferWise.

Hinrikus helped build two of Europe’s most recognised technology companies. He joined Skype during its early years and later worked as its Director of Strategy. He then created TransferWise with Kristo Käärmann after they experienced the high cost of moving money between the United Kingdom and Estonia.

As of July 2026, Taavet Hinrikus is no longer involved in the daily management of Wise. His main work now focuses on investing in technology companies as a partner at Plural and a founding partner at Skaala.

Taavet Hinrikus Quick Facts

Fact	Information
Full name	Taavet Hinrikus
Nationality	Estonian
Profession	Technology entrepreneur and investor
Best known for	Co-founding Wise and becoming Skype’s first employee
Wise co-founder	Kristo Käärmann
Former Wise roles	Chief Executive Officer and Chairman
Former Skype role	Director of Strategy
Current work	Partner at Plural and founding partner at Skaala
Education	MBA from INSEAD
Main industries	Financial technology, software and startup investment

Who Is Taavet Hinrikus?

Taavet Hinrikus is a business founder who played an important role in the growth of Estonia’s technology industry.

His career began at Skype, the internet calling service that helped people communicate across different countries. He was the company’s first employee and joined while the product was still at an early stage.

After leaving Skype, Hinrikus used his experience to build Wise. The company was created to make international money transfers cheaper, faster and clearer.

He later moved from company building into investment. He now supports founders who are creating new technology products across Europe.

Why Is Taavet Hinrikus Famous?

Taavet Hinrikus is famous for two main reasons.

First, he was Skype’s first employee. He joined the company in 2002 and remained with the business for around seven years. During that period, Skype grew from a small idea into a widely used international communication platform.

Second, Hinrikus co-founded TransferWise, now known as Wise, in 2010. Wise changed how many people and businesses send money internationally.

Instead of accepting slow transfers and unclear banking charges, Wise developed a digital system designed to show customers the exchange rate and transfer cost more clearly.

Becoming Skype’s First Employee

Hinrikus joined Skype in 2002 when he was still at the beginning of his professional career.

At that time, online voice calling was not a normal part of daily life. Most people depended on traditional telephone services when communicating with someone in another country.

Skype gave users a way to make voice and video calls through the internet.

Hinrikus worked with the company during its important early years. He gained experience in building technology products, growing an international user base and entering new markets.

He eventually became Skype’s Director of Strategy and remained in that position until 2008.

This experience later helped him understand how a small technology company could grow across several countries.

How Did Taavet Hinrikus Start Wise?

The idea for Wise came from a real financial problem faced by Hinrikus and Kristo Käärmann.

Hinrikus was living in the United Kingdom but received money in euros. He needed British pounds for his daily expenses.

Käärmann was also living in Britain and earning pounds, but he needed euros to cover financial commitments in Estonia.

Sending money through traditional banks could be expensive. The exchange rate was not always clear, and additional charges could make each transfer cost more than expected.

The two men found a simpler arrangement.

Käärmann placed euros into Hinrikus’s Estonian account. Hinrikus placed the same value in pounds into Käärmann’s British account. They used the real market exchange rate instead of sending the money through an expensive international transfer.

This personal arrangement became the starting idea for TransferWise.

Building TransferWise

Hinrikus and Käärmann began developing TransferWise in 2010. The first version of the service launched in early 2011.

The company’s purpose was simple: help people move money between countries without unnecessary costs or confusing charges.

TransferWise aimed to improve the customer experience by providing clearer transfer fees, competitive exchange rates, faster digital processes and simple online access.

The company initially focused on people who regularly moved money between the United Kingdom and Europe. It later expanded into more countries and supported additional currencies.

Hinrikus first served as the company’s Chief Executive Officer. Käärmann later became CEO, while Hinrikus moved into the role of Chairman.

The company changed its name from TransferWise to Wise in 2021 because it had expanded beyond basic money transfers.

Wise also completed a direct listing on the London Stock Exchange in 2021.

Why Did Taavet Hinrikus Leave Wise?

Taavet Hinrikus stepped down as Chairman of Wise in December 2021.

He explained that he had completed the main stages of building the company. He had helped start Wise, grow the platform, develop an international business and take the company into the public market.

Hinrikus had already moved away from Wise’s daily management before leaving the Chairman position.

He wanted to use his experience to help other founders build technology companies. He believed that investors who had personally created and expanded businesses could provide practical support to new entrepreneurs.

Hinrikus remains publicly recognised as a Wise co-founder, but he does not lead its daily operations.

What Does Taavet Hinrikus Do Now?

As of July 2026, Hinrikus spends much of his professional time as a partner at Plural.

Plural is a European investment platform created by experienced technology founders. It supports early-stage businesses that are trying to solve large problems through technology.

According to his official Plural profile, Hinrikus is interested in entrepreneurs who want to create products that are much better than existing solutions.

His current investment work includes businesses operating in artificial intelligence, healthcare technology, robotics, scientific research and industrial innovation.

The move from founder to investor can also be seen in the career of technology entrepreneur Errol Damelin, who moved from building a financial company into supporting younger businesses.

Taavet Hinrikus and Skaala

Hinrikus is also a founding partner at Skaala.

Skaala developed from his earlier startup investment activities. What began as a structure for managing technology investments later became a wider professional investment partnership.

At Skaala, Hinrikus helps oversee strategy and takes part in investment committee decisions.

The organisation works across several types of investment. It also supports educational and social-impact projects.

His position at Skaala allows him to combine business investment with longer-term projects that may benefit Estonia and the wider European technology community.

Supporting European Technology Founders

Hinrikus believes Europe can create more large technology companies when experienced founders support the next generation.

Building Skype and Wise gave him direct knowledge of the difficulties involved in growing a company.

A startup may need to hire the right employees, develop a reliable product, understand customer needs, enter foreign markets and raise investment.

Hinrikus has explained that business growth includes mistakes as well as achievements.

This experience affects the type of founders he supports. He looks for people who learn quickly, improve their products and attempt to solve important problems.

His Contribution to Technology Education

Hinrikus also co-founded Jõhvi Coding School, commonly known as kood/Jõhvi.

The school was created to help more people develop practical computer-programming skills in Estonia.

Its learning system is different from a traditional classroom. Students work on projects, solve problems and learn with support from other participants.

Technology education is important for Estonia because software companies need trained developers, engineers and product specialists.

By supporting coding education, Hinrikus is helping create opportunities for people who may later work in technology companies or build businesses of their own.

What Entrepreneurs Can Learn From Taavet Hinrikus

Begin With a Real Problem

Wise was created because its founders personally experienced expensive international transfers.

A business idea becomes more useful when it solves a problem that customers genuinely face.

The story of financial technology founder Romi Savova offers a similar lesson. She created PensionBee after facing difficulties while trying to transfer a pension.

Make Complex Services Simpler

International banking can include difficult language, hidden costs and several processing stages.

Wise grew by attempting to make this process clearer for ordinary customers.

Technology should not make a service complicated only to appear modern. Its purpose should be to make an important task easier.

Learn Through Action

Hinrikus joined Skype when he had limited experience of building international companies.

He learned by working on the product, solving problems and watching the company grow.

Education is valuable, but practical experience can also teach founders how businesses operate.

Move Into the Right Role

Hinrikus did not remain Wise’s CEO forever.

As the company changed, Kristo Käärmann became its continuing Chief Executive Officer, while Hinrikus moved into the Chairman position. He later left the board to concentrate on investing.

A founder does not always need to control every part of a company permanently. Strong leaders understand when another person may be better suited to the next stage.

Use Experience to Help Others

After building large companies, Hinrikus began using his knowledge to support new founders.

Experienced entrepreneurs can help younger businesses avoid mistakes, find skilled employees and make better growth decisions.

Is Taavet Hinrikus Still Part of Wise?

Taavet Hinrikus will always be recognised as a co-founder of Wise.

However, he is no longer part of the company’s daily leadership. He stepped down as Chairman in December 2021 after previously moving away from daily operations.

Kristo Käärmann continued leading Wise as its Chief Executive Officer.

Hinrikus’s current professional focus is investment, especially through Plural and Skaala.

Why Is Taavet Hinrikus Important in European Business?

Taavet Hinrikus is important because his career connects several stages of European technology growth.

He helped build Skype during the early development of internet communication. He then co-founded Wise, which challenged traditional international banking services.

After leaving Wise’s leadership, he began supporting other European technology founders.

His career shows how knowledge can move through a business community. One successful company can produce experienced workers, founders and investors who later help create additional companies.

This effect has been especially important in Estonia, a small country that has produced several internationally recognised technology businesses.

Frequently Asked Questions

Who is Taavet Hinrikus?

Taavet Hinrikus is an Estonian technology entrepreneur and investor. He is best known as Skype’s first employee and a co-founder of Wise.

What is Taavet Hinrikus famous for?

He is famous for helping build Skype during its early years and co-founding TransferWise, which later became Wise.

Did Taavet Hinrikus create Skype?

No. He did not create Skype, but he was the company’s first employee and later became its Director of Strategy.

Who founded Wise with Taavet Hinrikus?

Taavet Hinrikus co-founded Wise with Estonian entrepreneur Kristo Käärmann.

What was Wise originally called?

Wise was originally called TransferWise. The company changed its name to Wise in 2021.

Why did Taavet Hinrikus start Wise?

He helped start Wise after experiencing the high costs and difficulties of moving money between the United Kingdom and Estonia.

Is Taavet Hinrikus still the CEO of Wise?

No. Hinrikus is not the CEO of Wise. He previously served as CEO and later Chairman before stepping down as Chairman in December 2021.

What does Taavet Hinrikus do now?

As of July 2026, he works mainly as a partner at Plural. He is also a founding partner at Skaala.

What is Plural?

Plural is a European technology investment platform that supports early-stage founders building businesses in important industries.

Where did Taavet Hinrikus study?

He completed an MBA at INSEAD and is identified by the institution as a member of its MBA class of 2010.

Conclusion

Taavet Hinrikus is an Estonian entrepreneur who helped shape the development of European technology.

He began his major career journey as Skype’s first employee. That experience taught him how a small product could become an international company.

He later co-founded TransferWise with Kristo Käärmann after the two founders found a simpler way to exchange money between Britain and Estonia. TransferWise developed into Wise, a major international financial technology company.

Hinrikus eventually moved away from Wise’s daily leadership and stepped down as Chairman in 2021.

As of July 2026, his work focuses on investing through Plural and Skaala. He also supports technology education and the development of new European founders.

His journey shows that a strong business often begins with a clear problem, a simple solution and a willingness to improve the product repeatedly.