TransferGo

remittancesmobile/online remittanceconsumer

FOUNDING YEAR: 2012
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

TransferGo is a pure-play digital remittance service that allows clients to make secure money transfers via web and mobile at lower costs, with guaranteed destination amounts and next business day delivery. TransferGo brings pricing transparency and secure digital solutions with no hidden fees or conditions for all of the users.

Focus

PRODUCTS & SERVICES

Web/Mobile based money transfer services

REVENUE MODEL

They charge a flat fee per transaction (~$1.3), and between 0.2% and 1.3% on the currency conversion/FX.

MAIN CLIENTS

Reatail customers,small and medium businesses

EXISTING PARTNERSHIPS

TransferGo has partnered with more than 30 global banks

PRIMARY PROBLEM SOLVED

The company follows a local-in, local-out model, that allows them to pay money out to recipients as soon as they receive the funds from the senders by working with their bank partners. They also use a algorithm driven currency exchange platform, that provides for low deposit for any currency fluctuations.

COMMENT

The company is looking to expand from current 42 to countries to 100 countries globally.

Traction

VALUATION / MARKET CAP:

$22.67 M in 2016

REVENUE COMMENT:

The company aims to have $73 million in annual revenue by 2016.

TRANSACTIONS VALUE:

$150 M

ACTIVE USERS:

100,000

People

FOUNDERS

Arnas Lukosevicius

Edvinas Sersniovas

Justinas Lasevicius

Daumantas Dvilinskas

BOARD MEMBERS AND ADVISORS

Greg Kidd

Perry Blacher

Chris Grew

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Clive Khan

Mark Ransford

Practica Capital

Richard Tudor

Voria Fattahi

Vostok Emerging Finance

Momentum

FUNDED

YES

TOTAL FUNDING

$54.39 M

DATE OF LAST FUNDING

Jun 2016

SEED & PRIOR FUNDING

$2.97 M

SEED CLOSED ON

Dec 2015

FUNDING SERIES

SERIES A  · $3.4 M  · Jun 2016

SERIES B  · $33.88 M  · May 2019

OTHERS  · $1.29 M · Aug 2013

CROWDFUNDING

$12.85 M

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2012

LOCATION:

United Kingdom

Views:

168 VISITORS | 310 VIEWS
LATEST FUNDING ROUND

$54.4 M

TOTAL EMPLOYEES
11-50

About

TransferGo is a pure-play digital remittance service that allows clients to make secure money transfers via web and mobile at lower costs, with guaranteed destination amounts and next business day delivery. TransferGo brings pricing transparency and secure digital solutions with no hidden fees or conditions for all of the users.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Innovation Programs

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