TransferMate

paymentsb2b fintechbankingtech

FOUNDING YEAR: 2008
LOCATION: Ireland
Last Update: 01/05/2020

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About

TransferMate provides an online payment platform that enables individuals and businesses to send and receive their international foreign currency money transfers. The company’s payments platform enables users to book payments, track payments online, automate payee notification, and verify bank account details. TransferMate is one of the EU payments organization which regulated across the EU and the US. Recently, the company has received International Payment Supplier award for the year 2017.

Focus

PRODUCTS & SERVICES

International payment solutions provider. Its services include mass payments, international receivables, spot transactions, flexible spot transactions, stop loss order, market order, exchange rates, foreign exchange payments, international wire transfers, currency exchange quotes, new user video tutorials, currency converters, foreign exchange brokers, euro transfers, and referring business programs.

REVENUE MODEL

The only fees users pay are those associated with the overseas transfer of currency. The exact fee depends on the number, size, and destination of payments made.

MAIN CLIENTS

EPT International

DSP

Blaze Equipment

EXISTING PARTNERSHIPS

In Nov 2017

the company has a strategic partnership with AIB to enhance the company’s global digital strategy and bring more convenience and cost-effective solutions for clients. Other partners: Big Red Book

Xero

RSM

DFK Hirn Newey

West Ham United

Traction

VALUATION / MARKET CAP:

€300 M in 2017

VALUATION COMMENT:

It's valuation be around 250-300 M Euros. (Nov 2017)

TRANSACTIONS COMMENT:

The company has generated total transaction worth of $10 billion through its platform over 100 countries till Nov 2017.

People

FOUNDERS

Barry Dowling

Terry Clune

INVESTORS:

AIB (Allied Irish Bank)

ING Bank

KEY EMPLOYEES:

Terry Clune (CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$59.9 M

DATE OF LAST FUNDING

Jul 2018

TOTAL FUNDING COMMENT

The investment will enable the firm to invest in its commercial teams across the US, Canada, Australia and Europe, and its technology functions in Dublin.

FUNDING SERIES

SERIES A  · $59.9 M  · Jul 2018

LISTED

NO

BASICS

FOUNDING YEAR:

2008

LOCATION:

Ireland

Views:

48 VISITORS | 66 VIEWS
LATEST FUNDING ROUND

$59.9 M

About

TransferMate provides an online payment platform that enables individuals and businesses to send and receive their international foreign currency money transfers. The company’s payments platform enables users to book payments, track payments online, automate payee notification, and verify bank account details. TransferMate is one of the EU payments organization which regulated across the EU and the US. Recently, the company has received International Payment Supplier award for the year 2017.

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