Wise announced plans to open a new operational hub in Hyderabad, India, and has launched a new service for Indian businesses and freelancers to receive international payments.
The Hyderabad office, described as a full stack hub, is due to open in the second half of this year and will support functions including product development, engineering, and operations.
Wise said the hub is expected to play a role in global product development and operations as hiring ramps up.
The company plans to hire several hundred roles over the next few years.
The team will be led by Smrithi Ravi, the company’s APAC Head of Engineering, who will relocate from Singapore to oversee the new hub.
Alongside this expansion, Wise rolled out international account details for business users and freelancers in India.
The feature allows customers to receive free local bank account details in eight currencies—including USD, GBP, EUR, AUD, SGD, NZD, CAD, and HUF—making it easier for overseas clients to pay them as they would a domestic account.
Funds are then converted to INR at the mid-market exchange rate and deposited into the user’s linked Indian bank account.
Wise says transfers are processed within 90 minutes during business hours, with automatic eFIRC delivery via email.
The company has operated in India since 2013, and now claims to handle around 10% of inbound remittances into the country.
Since 2021, it has also offered outward transfers from India through its own AD-II licence, allowing customers to remit up to US$250,000 annually under the Liberalised Remittance Scheme.
Smrithi Ravi, APAC Head of Engineering, said,
“The teams in Hyderabad will play a crucial role in Wise’s global infrastructure and product development.
I’ll be looking for people who are passionate about building products that have a real impact on customers and who are self-starters looking to solve some of the most complex problems in international money movement.”
SK Saraogi, APAC Head of Expansion, said,
“Today we’re deepening our roots even further in India.
Our investment in Hyderabad is part of Wise’s broader mission to transform the 32 trillion-pound international money movement market and will be central to accelerating our ability to make moving money faster, cheaper, and more convenient for millions of customers across the world.”
Featured image credit: Edited from Freepik
