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.
Log in to view 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
22 Apr 24 | Seedrs | £11,297,362 / |
Officers
Mark Oliver RANSFORD
Appointed: 09-05-2019
Mark Oliver RANSFORD
Appointed: 17-05-2012
News
TransferGo hires former Western Union compliance head Simon McFeely as chief compliance officer - FinTech Futures
12/02/2024 FinTech Futures
TransferGo raises $10M to expand its remittance business in Asia, doubling valuation - TechCrunch
09/04/2024 TechCrunch
Taiwania Capital invests $10m in TransferGo to fuel Asia-Pacific growth - FinTech Global
11/04/2024 FinTech Global
TransferGo Secures 10 Million USD Investment from Taiwania Capital - Financial IT
10/04/2024 Financial IT
TransferGo raises $10m in funding from Taiwania Capital Management - IBS Intelligence
12/04/2024 IBS Intelligence
TransferGo secures USD 10 million funding for Asia-Pacific expansion - The Paypers
10/04/2024 The Paypers
TransferGo Launches Instant Payments to India with Ripple Blockchain Tech - Yahoo Movies UK
12/04/2024 Yahoo Movies UK
ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more - FinTech Futures
12/04/2024 FinTech Futures
AS VEF : VEF portfolio company TransferGo announces USD 10 mln investment from Taiwania Capital - Marketscreener.com
09/04/2024 Marketscreener.com
TransferGo Appoints Simon McFeely as Chief Compliance Officer - CEOWORLD magazine
13/02/2024 CEOWORLD magazine