Andreessen Horowitz, the VC firm created by Netscape and Opsware founders Marc Andreessen and Ben Horowitz, has led a Series C $58 million round in London-based money transfer startup TransferWise. The company's existing investors, including Sir Richard Branson, Peter Thiel’s Valar Ventures, Index Ventures, IA Ventures, and Seedcamp, also participated in the round.

TransferWise will use these funds for global expansion. It opens its US office next month as well as offices in Germany and in Australia over the course of the next few months. The plan is to open 300 further currency routes in the next year. Horowitz, whose firm’s notable investments include Facebook, Twitter, Airbnb, GitHub and Pinterest, is joining the company’s board to help accelerate the roll-out. He comments: "Not only is TranswerWise's solution 10 times better than the old way of exchanging foreign currency, but it could not have come at a better time. Since there has been little to no innovation from the traditional banking sector, we see massive opportunity for new financial institutions like this."

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