TransferTo
payments . mobile/digital wallet . remittances . b2b fintech . network settlement
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About
TransferTo operates a Cross-Border Mobile Payments Network for emerging markets, processing airtime top-up, money transfers, push and merchant payments in real-time for licensed financial institutions, organizations and merchants.
TransferTo's global payments network interlinks money transfer operators, mobile money operators, mobile wallets providers, banks, financial institutions, NGOs and global e-commerce merchants to facilitate mobile-based money transfers to and from emerging markets -- all through one single API connection and one global compliance framework.
Focus
PRODUCTS & SERVICES
Cross-border mobile payments platform. They aim to connect people to mobile financial services by delivering funds quickly and at a low cost to friends and family abroad
REVENUE MODEL
Transaction based revenue model
MAIN CLIENTS
The company has major clients including with Xoom
Western Union
Pay Pal
WorldRemit
Unicef
Kantar Millward Brown
SingTel
Booking.com
and Lebara Money
Grab
IN Switch
etc.
EXISTING PARTNERSHIPS
TransferTo partners with IPsmarx
PortaOne
PEC (Parwan)
Telinta.
PRIMARY PROBLEM SOLVED
TransferTo has observed that financial services in developing countries are currently inadequate and full of limitations. In such regions, much of the population do not have access to these formal services as they are typically inefficient, inconvenient and too expensive. Additionally, those with access to financial services find that legacy banks do not offer services adapted to customers at “the bottom of the pyramid”. TransferTo provides the missing international payment link to connect emerging markets’ consumers and merchants to the global economy. The company has developed a state-of-the art technology and payment industry-grade infrastructure to achieve this goal in the context of cross-border remittances and payments. TransferTo’s solution provides real-time and secure remittances, payments and transfers, and breaks the closed-loop barrier, allowing any regulated player to join the platform and open to the world.
Traction
NUMBER OF TRANSACTIONS:
60 M in 2017
TRANSACTIONS VALUE:
$75.00 in 2017
TRANSACTIONS COMMENT:
The company has more than 6.3 million transactions were processed across the Network over the past six months and till date it processed 300 M(Oct 2017).
ACTIVE USERS COMMENT:
As of Nov 2017, TransferTo linked more than 4.5 billion mobile users across more than 400 mobile operators.
TRACTION COMMENT:
TransferTo planned for expansion of its operations across West and Central Africa (Nov 2017).
People
FOUNDERS
Eric Barbier
BOARD MEMBERS AND ADVISORS
Allan Green
Nathalie Lomon
Angus Paterson
Lee Kheng Nam
Eric Barbier
Peter De Caluwe
NUMBER OF EMPLOYEES
51-200
INVESTORS:
KEY EMPLOYEES:
Dan Gardner
Peter De Caluwe(CEO); Thierry Siminger(CCO); Dan Gardner(CFO); Bruno Premartin(CTO)
Momentum
FUNDED
YES
TOTAL FUNDING
$6.5 M
DATE OF LAST FUNDING
Mar 2015
FUNDING SERIES
SERIES A · $3 M · Oct 2009
SERIES B · $3.5 M · Mar 2015
LISTED
NO
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FOUNDING YEAR:
LOCATION:
Views:
$6.5 M
About
TransferTo operates a Cross-Border Mobile Payments Network for emerging markets, processing airtime top-up, money transfers, push and merchant payments in real-time for licensed financial institutions, organizations and merchants.
TransferTo
About
TransferTo operates a Cross-Border Mobile Payments Network for emerging markets, processing airtime top-up, money transfers, push and merchant payments in real-time for licensed financial institutions, organizations and merchants.
Focus
PRODUCTS & SERVICES
TransferTo operates a B2B Cross-Border Mobile Payments Network for emerging markets, processing real-time transactions for money transfer operators, mobile operators, digital wallet providers, banks, NGO’s and merchants. Leading companies around the world rely on TransferTo’s mobile payment solutions to perform digital payments.
REVENUE MODEL
Transaction based revenue model
TOP PROBLEM SOLVED
TransferTo has observed that financial services in developing countries are currently inadequate and full of limitations. In such regions, much of the population do not have access to these formal services as they are typically inefficient, inconvenient and too expensive. Additionally, those with access to financial services find that legacy banks do not offer services adapted to customers at “the bottom of the pyramid”. TransferTo provides the missing international payment link to connect emerging markets’ consumers and merchants to the global economy. The company has developed a state-of-the art technology and payment industry-grade infrastructure to achieve this goal in the context of cross-border remittances and payments. TransferTo’s solution provides real-time and secure remittances, payments and transfers, and breaks the closed-loop barrier, allowing any regulated player to join the platform and open to the world.
INTELLECTUAL PROPERTY
Patent(s) not Filed
PRODUCT DEVELOPMENT STAGE
V2.0 or BEYOND
PRODUCT DEVELOPMENT COMMENT
Our product portfolio comprises offerings for both Mobile Airtime (P2P top-ups, Data bundles and Airtime Incentives) and Money transfer services )P2P transfers, mass payouts and merchant payments). These products are supported by the two main branches of our Cross-Border Payments Network: • An extensive international airtime network providing the best means to transfer small value mobile airtime top-ups, • Our money transfer network, implementing real-time, fully compliant and affordable cross-border payments to over 60 countries. By operating a B2B Cross-Border Mobile Payments Network globally, TransferTo’s network aids our customers to target those individuals who would otherwise be unable to access traditional financial services, often in remote areas with no brick-and-mortar bank branches. Mobile phone penetration is growing exponentially in emerging markets, offering a viable method to deliver safe, secure remittances or receive salaries and disbursements from organisations directly to a mobile phone and eliminating the risk associated with cash.
KEY DIFFERENTIATORS
• TransferTo’s fundamental unique proposition is to connect financial services in emerging markets to the global economy. • With shared, transparent FX and fees, there are no hidden costs for our partners. • Our technology is scalable and boasts a simple, single technical interface, operational process and settlement procedure meaning our partners have a sole commercial relationship. • Through our “pre-funding” business model and immediate screening process, all transactions are processed in real-time and fully compliant (licensed by FCA in UK). • The biggest asset of TransferTo is our extensive global network, spanning over nearly 2000 companies in 135 countries, and working in 100 currencies.
PRIMARY CUSTOMER TYPE
Enterprise - Banks or Financial Institutions
Enterprise - Retailers
Enterprise - Others
Small and Medium Business - Physical Retail
Small and Medium Business - Online Retail
Small And Medium Business - Other
People
FOUNDERS
Eric Barbier
NUMBER OF EMPLOYEES
51-200
KEY EMPLOYEES:
CEO: Peter De Caluwe
CTO: Bruno Premartin
CRO: Thierry Siminger
CFO: Dan Gardner
employee: Peter De Caluwe(CEO); Thierry Siminger(CCO); Dan Gardner(CFO); Bruno Premartin(CTO)
FOUNDER: Eric Barbier
BOARD MEMBERS AND ADVISORS:
Allan Green, Nathalie Lomon, Angus Paterson, Lee Kheng Nam, Eric Barbier, Peter De Caluwe
INVESTORS:
Momentum
FUNDED
YES
TOTAL FUNDING:
$6.5 M
LISTED
NO
FUNDING SERIES
Seed --- Oct 2009 --- USD3 M Ingenico Ventures Series A --- Mar 2015 --- USD3.5 M STC VenturesSubscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!
TransferTo's global payments network interlinks money transfer operators, mobile money operators, mobile wallets providers, banks, financial institutions, NGOs and global e-commerce merchants to facilitate mobile-based money transfers to and from emerging markets -- all through one single API connection and one global compliance framework.
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TransferTo
About
TransferTo operates a Cross-Border Mobile Payments Network for emerging markets, processing airtime top-up, money transfers, push and merchant payments in real-time for licensed financial institutions, organizations and merchants.
Focus
PRODUCTS & SERVICES
TransferTo operates a B2B Cross-Border Mobile Payments Network for emerging markets, processing real-time transactions for money transfer operators, mobile operators, digital wallet providers, banks, NGO’s and merchants. Leading companies around the world rely on TransferTo’s mobile payment solutions to perform digital payments.
REVENUE MODEL
Transaction based revenue model
TOP PROBLEM SOLVED
TransferTo has observed that financial services in developing countries are currently inadequate and full of limitations. In such regions, much of the population do not have access to these formal services as they are typically inefficient, inconvenient and too expensive. Additionally, those with access to financial services find that legacy banks do not offer services adapted to customers at “the bottom of the pyramid”. TransferTo provides the missing international payment link to connect emerging markets’ consumers and merchants to the global economy. The company has developed a state-of-the art technology and payment industry-grade infrastructure to achieve this goal in the context of cross-border remittances and payments. TransferTo’s solution provides real-time and secure remittances, payments and transfers, and breaks the closed-loop barrier, allowing any regulated player to join the platform and open to the world.
PRODUCT DEVELOPMENT STAGE
V2.0 or BEYOND
PRODUCT DEVELOPMENT COMMENT
Our product portfolio comprises offerings for both Mobile Airtime (P2P top-ups, Data bundles and Airtime Incentives) and Money transfer services )P2P transfers, mass payouts and merchant payments). These products are supported by the two main branches of our Cross-Border Payments Network: • An extensive international airtime network providing the best means to transfer small value mobile airtime top-ups, • Our money transfer network, implementing real-time, fully compliant and affordable cross-border payments to over 60 countries. By operating a B2B Cross-Border Mobile Payments Network globally, TransferTo’s network aids our customers to target those individuals who would otherwise be unable to access traditional financial services, often in remote areas with no brick-and-mortar bank branches. Mobile phone penetration is growing exponentially in emerging markets, offering a viable method to deliver safe, secure remittances or receive salaries and disbursements from organisations directly to a mobile phone and eliminating the risk associated with cash.
KEY DIFFERENTIATORS
• TransferTo’s fundamental unique proposition is to connect financial services in emerging markets to the global economy. • With shared, transparent FX and fees, there are no hidden costs for our partners. • Our technology is scalable and boasts a simple, single technical interface, operational process and settlement procedure meaning our partners have a sole commercial relationship. • Through our “pre-funding” business model and immediate screening process, all transactions are processed in real-time and fully compliant (licensed by FCA in UK). • The biggest asset of TransferTo is our extensive global network, spanning over nearly 2000 companies in 135 countries, and working in 100 currencies.
PRIMARY CUSTOMER TYPE
Enterprise - Banks or Financial Institutions
Enterprise - Retailers
Enterprise - Others
Small and Medium Business - Physical Retail
Small and Medium Business - Online Retail
Small And Medium Business - Other
People
FOUNDERS
Eric Barbier
NUMBER OF EMPLOYEES
51-200
KEY EMPLOYEES:
CEO: Peter De Caluwe
CTO: Bruno Premartin
CRO: Thierry Siminger
CFO: Dan Gardner
employee: Peter De Caluwe(CEO); Thierry Siminger(CCO); Dan Gardner(CFO); Bruno Premartin(CTO)
FOUNDER: Eric Barbier
BOARD MEMBERS AND ADVISORS:
Allan Green, Nathalie Lomon, Angus Paterson, Lee Kheng Nam, Eric Barbier, Peter De Caluwe
INVESTORS:
Momentum
FUNDED
YES
TOTAL FUNDING:
$6.5 M
LISTED
NO