UK-based fintech Wise is set to establish a full-stack hub in Hyderabad, India, marking a major expansion of its operations in the region. The hub, which will open later this year, is expected to host hundreds of employees over the coming years, starting with key hires in product, engineering, and servicing operations roles.
Wise, a major player in cross-border money transfers, has been active in India since 2013 and currently powers about 10% of all funds sent from abroad to the country. The Hyderabad hub will significantly bolster the company’s regional presence and technological capabilities.
Smrithi Ravi, Wise’s APAC head of engineering, will relocate from Singapore back to India to lead the new hub. “India’s tech talent ecosystem is world-class, and I’m excited to return home to lead Wise’s newest full stack hub in Hyderabad,” said Ravi. “The teams in Hyderabad will play a crucial role in Wise’s global infrastructure and product development.”
In tandem with its infrastructure expansion, Wise is rolling out an international account tailored to Indian businesses. This account will enable users to receive international payments in major currencies such as USD, GBP, EUR, AUD, and SGD, simplifying global transactions for Indian SMEs and enterprises.
Meanwhile, Revolut, another UK-based fintech giant, is also expanding in India. The company has secured full authorisation from the Reserve Bank of India to issue prepaid payment instruments (PPIs) and enable UPI payments. “We are excited to build on our existing licenses and launch our domestic PPI product in India, alongside our international multi-currency card,” said Paroma Chatterjee, CEO of Revolut India.
Both moves signal increased fintech competition in one of the world’s fastest-growing digital economies, with UK players positioning themselves to tap into India’s booming tech talent and expanding financial services market.