TransferGo Raises $17.5 million in Series B Funding

The round has been carried out in two tranches, with the first capital injection taking place in May and this second tranche taking the total to $17.5 million. TransferGo also have a crowdfunding campaign currently live and over-funded on the Seedrs platform.

TransferGo is the fastest, most loved, remittance company in Europe with a Trustpilot score of 9.6 and an NPS score of 75, it has built a brand based on transparency, trust and user experience.

In October of this year, TransferGo launched the first completely free international money transfer service, a service with no transaction fee and no mark up on exchange rates allowing customers to transfer money around the world at absolutely no cost.

TransferGo also differentiates on speed, as it has built proprietary technology and infrastructure to enable international cross-network money transfers in 30 minutes regardless of where the sender or recipient is banked.

They have a rapidly growing customer base of 833,000 users, adding more than 1,000 new customers per day and operations in 47 countries around the world, with offices in London, Vilnius, Berlin, Warsaw and Istanbul.

“After growing 100% year on year we’ll now accelerate that growth even further. We’ll use this funding to fuel our international expansion and increase market share particularly across Turkey, India, Ukraine and Russia and continue to develop new products and services for our customers. We’re delighted to have the continued support of our existing investors and to welcome Greg Kidd from Hard Yaka to our board, his experience scaling some of the best fintech businesses in the world will be invaluable,” said CEO and cofounder Daumantas Dvilinskas.

Greg Kidd, co-founder of Hard Yaka commented “We’re delighted to be partnering with the TransferGo team as they enter this next stage of growth. With their laser focus on customer service and product innovation, they are truly one of the most exciting consumer finance companies in Europe. We’ve recently seen them launch products like Ripple-enabled real-time transfers and a completely free service, we have no doubt the customer experience with TransferGo will keep going from strength to strength.”

About TransferGo

Founded in 2012, TransferGo is the fastest, most reliable, remittance company in Europe and is the only Pan-European money transfer company that can guarantee your money will reach its destination in 30 minutes. We put the customer first and deliver transparency, and by prioritising customer experience, we’ve built a brand that thousands of clients trust and a product they love (rated Excellent on Trustpilot, with 96% 5* reviews NPS of 75) our vision is to make international financial services pain-free and without artificial borders.

Founder and CEO Daumantas Dvilinskas was included in the 2017 Forbes 30 under 30 and the company was recently nominated for “Fastest Rising Startup of the Year” at TechCrunch Europa Awards 2018.

About Hard Yaka

Hard Yaka is an investment firm focused on portable identity, payments and marketplaces founded by Greg Kidd, an initial investor and advisor for both Twitter and Square. Investments by HardYaka include globaliD, where Greg is the co-founder and CEO.

Greg Kidd is the CEO and co-founder of globaliD, a venture-backed San Francisco-based portable identity platform leveraging the blockchain, and the former chief risk officer at Ripple. His work taking his own startup public (Dispatch Management Services) on the Nasdaq is book-ended by time at Booz Allen, Promontory, and the Board of Governors of the Federal Reserve. He was an initial investor and advisor for both Twitter and Square, and his investment firm Hard Yaka continues to back many fintech and regtech companies. His leadership pursuits include work at Outward Bound and the National Outdoor Leadership School (NOLS).

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