
A money transfer service allowing customers to send money worldwide at a lower cost compared to traditional methods. TransferGo has been gaining 1,000 customers a day since May 2018 and currently has over 700,000 users. They have processed almost £781m on their platform through 1.3m transactions and operate on a gross profit margin of 6.7%.
TransferGo has 5 offices located in London, Berlin, Istanbul, Warsaw and Vilnius, with more than 100 employees globally. The company recently launched their new product, dubbed 'NOW', that enables users to send and receive monies in less than 30 minutes across borders.
Revenue is generated via fixed transfer fees and currency conversion fees ranging from 0.0% to 2.2% per transaction. These fees are dependent on the currency's origin and the amount being transferred. A free option is available to customers whose transaction may take a couple of days to transfer.
Funds are being raised to expand the business into emerging markets and introduce new products and services. This also means that TransferGo is aiming to provide local-language support and build new partnerships to attract more customers to their platform.
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£11,297,362
pledged
Withheld
target
£58,742,945
pre-money valuation
15.92%
equity available
1,048
investors
£10,780
pledge per investor
09790070
company number
Active
company status
Equity Calculator
£
%
Previous Funding rounds
29 Oct 18 | Seedrs | £11,297,362 / inf% |
Officers
OHS SECRETARIES LIMITED
Appointed: 15-08-2017
Perry Rael Blacher
Appointed: 03-12-2015
Jonathan Neil Brozin
Appointed: 04-12-2018
Daumantas Dvilinskas
Appointed: 22-09-2015
Donatas Keras
Appointed: 03-12-2015
Robert Gregory Kidd
Appointed: 14-12-2018
Justinas Lasevicius
Appointed: 22-09-2015
Renier Adrianus Lemmens
Appointed: 14-12-2018
David Nangle
Appointed: 21-06-2016
Dr Mark Oliver Ransford
Appointed: 07-12-2015
News
Why Digital Remittance Market fastest growth segment should surprise us? Remitly, Azimo, OrbitRemit, Toast, TransferGo - NeighborWebSJ
14/01/2021 NeighborWebSJ
TransferGo and Visa introduce real-time global transfers | Digital Payments - FinTech Magazine - The FinTech & InsurTech Platform
22/10/2020 FinTech Magazine - The FinTech & InsurTech Platform
TransferGo and Mastercard team on cross-border payments - Finextra
07/12/2020 Finextra
TransferGo scoops £4m in pre-Series C funding - Verdict
23/11/2020 Verdict
TransferGo partners with Visa to bring global real-time transfers to users - Finextra
21/10/2020 Finextra
TransferGo raises $10M additional funding, launches in 11 new markets - TechCrunch
16/06/2020 TechCrunch
TransferGo Receives £4m Funding From Silicon Valley Bank to Develop Its Payments Platform - The Fintech Times
24/11/2020 The Fintech Times
TransferGo and Mastercard Partnership to Allow Real-Time Cross-Border Payment Transfer - The Fintech Times
08/12/2020 The Fintech Times
Here's what TransferGo, London-based international money transfer will do with €9M funding - Silicon Canals
17/06/2020 Silicon Canals
Behind the Idea: TransferGo - The Fintech Times
16/07/2020 The Fintech Times
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