Not all is smoke and mirrors but 1Bn might include a significant unproven smoke
Currency exchange boss says TransferWise's $1bn business isn't all it's cracked up to be. Calling Britain’s most high profile financial technology business “smoke and mirrors” and “vapourware” might sound outrageous, but that’s exactly what Nick England founder of VFX believes. Nick England, CEO VFX. “Peer-to-peer currency exchange is just smoke and mirrors, it is conceptually broken,” England told The Memo. It’s a statement that fires a shot across the bow of one of London’s most high-profile tech businesses, TransferWise, a company valued last year at over $1bn and named one of Britain’s most innovative businesses.