TransferWise and Andreessen Horowitz

Transferwise has raised $58 million from the Silicon Valley venture capital fund Andreessen Horowitz in a deal that reportedly values the company at $1 billion. Transferwise lets people transfer money internationally over its online platform, at a lower rate than many big banks. The latest cash injection will be used to expand the company overseas, with new offices set to open in New York and Tampa. Sites in Germany and Australia will follow.