TransferTo

paymentsmobile/digital walletremittancesb2b fintechnetwork settlement

FOUNDING YEAR: 2005
LOCATION: Singapore
Last Update: 01/05/2020

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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.

MEDICI Analysis

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:

Ingenico Ventures

STC Ventures

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

BASICS

FOUNDING YEAR:

2005

LOCATION:

Singapore

Views:

171 VISITORS | 306 VIEWS
LATEST FUNDING ROUND

$6.5 M

TOTAL EMPLOYEES
51-200

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.

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!

MEDICI Analysis

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+
Momentum+
Traction+
People+
Other+

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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:

Ingenico Ventures

STC Ventures

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 Ventures