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Status: Extended

Oct 29th 2018 - Dec 28th 2018

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
    Investment
    £
    Equity
    %
    Previous Funding rounds
    29 Oct 18 Seedrs £11,297,362 / inf%

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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
    Investment
    £
    Equity
    %
    Previous Funding rounds
    29 Oct 18 Seedrs £11,297,362 / inf%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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