Vikram Pandit has added currency transfer startup TransferWise to his portfolio of financial technology investments, taking an undisclosed stake in the London-based business.

The former Citigroup chief executive said he invested earlier this year as TransferWise looks to accelerate its global expansion. TransferWise offers currency transfers at lower prices than those charged by traditional banks. It does this by matching users with their counterparts abroad who wish to transfer money in the other direction.